Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2020shares | |
Cover [Abstract] | |
Entity Registrant Name | TELEFONICA S A |
Entity Central Index Key | 0000814052 |
Document Type | 20-F |
Amendment Flag | false |
Entity Current Reporting Status | Yes |
Document Period End Date | Dec. 31, 2020 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Well Known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Common Stock, Shares Outstanding | 5,526,431,062 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
NON-CURRENT ASSETS | € 71,396 | € 94,549 |
Intangible assets | 11,488 | 16,034 |
Goodwill | 17,044 | 25,403 |
Property, plant and equipment | 23,769 | 32,228 |
Rights of use | 4,982 | 6,939 |
Investments accounted for by the equity method | 427 | 140 |
Financial assets and other non-current assets | 7,270 | 7,123 |
Deferred tax assets | 6,416 | 6,682 |
CURRENT ASSETS | 33,655 | 24,328 |
Inventories | 1,718 | 1,999 |
Receivables and other current assets | 7,523 | 10,785 |
Tax receivables | 902 | 1,561 |
Other current financial assets | 2,495 | 3,123 |
Cash and cash equivalents | 5,604 | 6,042 |
Non-current assets and disposal groups held for sale | 15,413 | 818 |
Total allocated assets | 105,051 | 118,877 |
EQUITY AND LIABILITIES | ||
EQUITY | 18,260 | 25,450 |
Equity attributable to equity holders of the parent and other holders of equity instruments | 11,235 | 17,118 |
Equity attributable to non-controlling interests | 7,025 | 8,332 |
NON-CURRENT LIABILITIES | 58,674 | 63,236 |
Non-current financial liabilities | 42,297 | 43,288 |
Non-current lease liabilities | 4,039 | 5,626 |
Payables and other non-current liabilities | 2,561 | 2,928 |
Deferred tax liabilities | 2,620 | 2,908 |
Non-current provisions | 7,157 | 8,486 |
CURRENT LIABILITIES | 28,117 | 30,191 |
Current financial liabilities | 8,123 | 9,076 |
Current lease liabilities | 1,255 | 1,600 |
Payables and other current liabilities | 10,912 | 14,903 |
Current tax payables | 1,732 | 2,560 |
Current provisions | 1,304 | 1,672 |
Liabilities associated with non-current assets and disposal groups held for sale | 4,791 | 380 |
TOTAL EQUITY AND LIABILITIES | € 105,051 | € 118,877 |
Consolidated Income Statements
Consolidated Income Statements - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Profit or loss [abstract] | |||||
Revenues | € 43,076 | € 48,422 | € 48,693 | ||
Other income | 1,587 | 2,842 | 1,622 | ||
Supplies | (13,014) | (13,635) | (14,013) | ||
Personnel expenses | (5,280) | (8,066) | (6,332) | ||
Other expenses | (12,871) | (14,444) | (14,399) | ||
Depreciation and amortization | (9,359) | (10,582) | (9,049) | ||
OPERATING INCOME | 4,139 | 4,537 | 6,522 | ||
Share of income (loss) of investments accounted for by the equity method | 2 | 13 | 4 | ||
Finance income | 677 | 842 | 1,458 | ||
Exchange gains | 3,847 | 2,461 | 3,389 | ||
Finance costs | (2,417) | (2,795) | (2,690) | ||
Exchange losses | (3,665) | (2,340) | (3,112) | ||
Net financial expense | (1,558) | (1,832) | (955) | ||
PROFIT BEFORE TAX | 2,583 | 2,718 | 5,571 | ||
Corporate income tax | (626) | (1,054) | (1,621) | ||
PROFIT FOR THE YEAR | 1,957 | 1,664 | [1] | 3,950 | [1] |
Attributable to equity holders of the parent | 1,582 | 1,142 | 3,331 | ||
Attributable to non-controlling interests | € 375 | € 522 | € 619 | ||
Basic and diluted earnings per share attributable to equity holders of the parent (EUR per share) | € 0.24 | € 0.16 | € 0.54 | ||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | [1] | Dec. 31, 2018 | [1] | |
Statement of comprehensive income [abstract] | |||||
Profit for the year | € 1,957 | € 1,664 | € 3,950 | ||
Other comprehensive (loss) income | (7,305) | (369) | (3,189) | ||
Gains (losses) from financial assets measured at Fair value through other comprehensive income | 1 | 2 | 9 | ||
Income tax impact | 0 | 0 | (3) | ||
Reclassification of (gains) losses included in the income statement (Note 19) | 0 | (62) | 0 | ||
Income tax impact | 0 | 0 | 0 | ||
Other comprehensive income (loss), available-for-sale investments, net of tax | 1 | (60) | 6 | ||
(Losses) gains on hedges | (765) | 361 | 935 | ||
Income tax impact | 183 | (98) | (243) | ||
Reclassification of losses (gains) included in the income statement (Note 19) | 963 | (439) | (706) | ||
Income tax impact | (250) | 118 | 181 | ||
Other comprehensive income, hedges, net of tax | 131 | (58) | 167 | ||
(Losses) gains on hedges costs | (98) | (14) | 51 | ||
Income tax impact | 24 | 4 | (13) | ||
Reclassification of (gains) losses included in the income statement (Note 19) | (8) | (4) | (2) | ||
Income tax impact | 2 | 1 | 1 | ||
Other comprehensive income, hedges costs, net of tax | (80) | (13) | 37 | ||
Share of (losses) gains recognized directly in equity of associates and others | 0 | 0 | (34) | ||
Income tax impact | 0 | 0 | 1 | ||
Reclassification of (gains) losses included in the income statement | 0 | (7) | 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 | 0 | (7) | (33) | ||
Translation differences (Note 17) | (7,236) | (162) | (3,401) | ||
Total other comprehensive (loss) income recognized for the year that may be reclassified subsequently to profit or loss | (7,184) | (300) | (3,224) | ||
Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans | 33 | (188) | 203 | ||
Income tax impact | 0 | 45 | (24) | ||
Reclassification to reserve actuarial losses (gains) and impact of limit on assets for defined benefit pension plans (Note 2) | 0 | 89 | 0 | ||
Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans, net of tax | 33 | (54) | 179 | ||
(Losses) gains from financial assets measured at fair value through comprehensive income | (141) | (1) | (133) | ||
Income tax impact | (13) | (14) | (11) | ||
(Losses) gains from financial assets measured at fair value through comprehensive income, net of tax | (154) | (15) | (144) | ||
Total other comprehensive (loss) income recognized for the year that will not be reclassified subsequently to profit or loss | (121) | (69) | 35 | ||
Total comprehensive income (loss) for the year | (5,348) | 1,295 | 761 | ||
Attributable to: | |||||
Equity holders of the parent and other holders of equity instruments | (4,286) | 860 | 714 | ||
Non-controlling interests | € (1,062) | € 435 | € 47 | ||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, |
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 | Fair value financial assets | Hedges | Equity of associates and others | Translation differences | Non-controlling interests | |||
Financial position, beginning balance at Dec. 31, 2017 | € 26,618 | € 16,920 | € 5,192 | € 4,538 | € (688) | € 7,518 | € 987 | € 14,732 | € 74 | € 384 | € 37 | € (15,854) | € 9,698 | |||
Profit for the year | 3,950 | [1] | 3,331 | 3,331 | 619 | |||||||||||
Other comprehensive income (loss) for the year | (3,189) | [1] | (2,617) | 181 | (138) | 176 | 7 | (2,843) | (572) | |||||||
Total comprehensive income (loss) for the year | 761 | [1] | 714 | 3,512 | (138) | 176 | 7 | (2,843) | 47 | |||||||
Dividends and distribution of profit (Note 17) | (2,957) | (2,051) | 51 | (2,102) | (906) | |||||||||||
Net movement in treasury shares | 1 | 1 | 2 | (1) | ||||||||||||
Acquisitions and disposals of non-controlling interests and business combinations | 371 | 232 | 232 | 139 | ||||||||||||
Undated deeply subordinated securities and notes mandatorily convertible (Note 17) | (426) | (414) | (22) | (392) | (12) | |||||||||||
Other movements | 1 | 1 | ||||||||||||||
Financial position, ending balance at Dec. 31, 2018 | 26,980 | 17,947 | 5,192 | 4,538 | (686) | 7,496 | 1,038 | 20,291 | [2] | (369) | 560 | 44 | (20,157) | [2] | 9,033 | |
Profit for the year | 1,664 | [1] | 1,142 | 1,142 | 522 | |||||||||||
Other comprehensive income (loss) for the year | (369) | [1] | (282) | (35) | (75) | (57) | (20) | (95) | (87) | |||||||
Total comprehensive income (loss) for the year | 1,295 | [1] | 860 | 1,107 | (75) | (57) | (20) | (95) | 435 | |||||||
Dividends and distribution of profit (Note 17) | (2,756) | (2,046) | (2,046) | (710) | ||||||||||||
Net movement in treasury shares | (85) | (85) | (80) | (5) | ||||||||||||
Acquisitions and disposals of non-controlling interests and business combinations | (507) | (89) | (89) | (418) | ||||||||||||
Undated deeply subordinated securities and notes mandatorily convertible (Note 17) | 479 | 491 | 747 | (256) | (12) | |||||||||||
Other movements | 28 | 29 | 29 | (1) | ||||||||||||
Financial position, ending balance at Dec. 31, 2019 | 25,450 | 17,118 | 5,192 | 4,538 | (766) | 8,243 | 1,038 | 19,042 | [3] | (444) | 503 | 24 | (20,252) | [3] | 8,332 | |
Profit for the year | 1,957 | 1,582 | 1,582 | 375 | ||||||||||||
Other comprehensive income (loss) for the year | (7,305) | (5,868) | 23 | (153) | 144 | (81) | (5,801) | (1,437) | ||||||||
Total comprehensive income (loss) for the year | (5,348) | (4,286) | 1,605 | (153) | 144 | (81) | (5,801) | (1,062) | ||||||||
Dividends and distribution of profit (Note 17) | (1,230) | (714) | 334 | (1,048) | (516) | |||||||||||
Net movement in treasury shares | (224) | (224) | (195) | (29) | ||||||||||||
Acquisitions and disposals of non-controlling interests and business combinations | 580 | 262 | 485 | (223) | 318 | |||||||||||
Undated deeply subordinated securities and notes mandatorily convertible (Note 17) | (997) | (955) | (693) | (335) | 73 | (42) | ||||||||||
Other movements | 29 | 34 | 34 | (5) | ||||||||||||
Financial position, ending balance at Dec. 31, 2020 | € 18,260 | € 11,235 | € 5,526 | € 4,538 | € (476) | € 7,550 | € 1,038 | € 19,046 | € (597) | € 647 | € (57) | € (25,980) | € 7,025 | |||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, | |||||||||||||||
[2] | The opening balances of "Retained earnings" and "Translation differences" were changed to reflect the accounting policy change indicated in Note 2. | |||||||||||||||
[3] | The opening balances of "Retained earnings" and "Translation differences" were changed to reflect the accounting policy change indicated in Note 2. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of cash flows [abstract] | |||
Cash received from operations | € 51,353 | € 57,699 | € 58,815 |
Cash paid from operations | (36,477) | (41,224) | (42,891) |
Net payments of interest and other financial expenses net of dividends received | (1,171) | (1,725) | (1,636) |
Taxes (paid)/proceeds | (509) | 272 | (865) |
Net cash flow provided by operating activities | 13,196 | 15,022 | 13,423 |
(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net | (7,020) | (7,659) | (8,585) |
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 81 | 1,723 | 29 |
Payments on investments in companies, net of cash and cash equivalents acquired | (79) | (12) | (3) |
Proceeds on financial investments not included under cash equivalents | 2,308 | 1,835 | 1,004 |
Payments on financial investments not included under cash equivalents | (3,297) | (1,132) | (965) |
Proceeds/(payments) on placements of cash surpluses not included under cash equivalents | 217 | (396) | (202) |
Government grants received | 0 | 0 | 37 |
Net cash flow used in investing activities | (7,790) | (5,641) | (8,685) |
Dividends paid | (1,296) | (2,742) | (2,794) |
Proceeds from share capital increase | 323 | 0 | 0 |
(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests | (223) | (504) | 379 |
Operations with other equity holders | (1,020) | 390 | (561) |
Proceeds on issue of debentures and bonds and other debts | 4,011 | 4,186 | 4,289 |
Proceeds on loans, borrowings and promissory notes | 4,516 | 1,702 | 3,973 |
Repayments of debentures and bonds and other debts | (6,728) | (3,653) | (4,654) |
Repayments of loans, borrowings and promissory notes | (2,852) | (6,356) | (4,040) |
Lease principal payments | (1,787) | (1,518) | 0 |
Financed operating payments and investments in property, plant and equipment and intangible assets payments | (382) | (526) | (472) |
Net cash used in financing activities | (5,438) | (9,021) | (3,880) |
Effect of changes in exchange rates | (402) | 7 | (244) |
Cash reclassified to assets held for sale | (4) | (14) | (111) |
Effect of changes in consolidation methods and others | 0 | (3) | (3) |
Net increase (decrease) in cash and cash equivalents during the year | (438) | 350 | 500 |
RECONCILIATION OF CASH AND CASH EQUIVALENTS WITH THE STATEMENTS OF FINANCIAL POSITION | |||
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 6,042 | 5,692 | 5,192 |
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 5,604 | 6,042 | 5,692 |
CASH AND CASH EQUIVALENTS TOTAL | € 5,604 | € 5,692 | € 5,192 |
Background and General Informat
Background and General Information | 12 Months Ended |
Dec. 31, 2020 | |
General Information About Financial Statements [Abstract] | |
Background and General Information | Background and general information Telefónica, S.A. and its subsidiaries and investees (hereinafter also referred to as 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 fixed 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 fixed 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. The accompanying consolidated financial statements for the year ended December 31, 2020 were approved by the Company’s Board of Directors at its meeting on February 24, 2021 for submission for approval at the General Shareholders’ Meeting, which is expected to occur without modification. |
Basis of Presentation of the Co
Basis of Presentation of the Consolidated Financial Statements | 12 Months Ended |
Dec. 31, 2020 | |
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 each of the companies comprising the Telefónica Group, whose separate financial statements were prepared in accordance with the generally accepted accounting principles applicable in the various countries in which they are located, and for the 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, 2020, and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended. The euro is the Group’s reporting currency. The figures in these consolidated financial statements are expressed in million euros, unless indicated otherwise, and may therefore be rounded. 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 having to be presented due to their qualitative significance, were deemed to be 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. Comparative information and main changes in the consolidation scope For comparative purposes, the accompanying consolidated financial statements for 2020 include the figures for 2019, and 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 2018. The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2020 and 2019 (see Appendix I for a detailed description of the consolidation scope and the changes during the year) are as listed below. COVID-19: impact and response in Telefónica The COVID-19 crisis caused the greatest GDP fall of the last decades and, inevitably, it impacted the financial and operative performance of the Group. Consolidated revenues and operating income decreased 11.0% and 8.8% year-on-year, respectively, partly due to the effect of the pandemic. Revenues were affected by the reduction of the commercial activity, which was reflected in lower service revenues and lower handset sales. Telefónica experienced the most significant effects during the second quarter as lockdowns imposed across the Group's markets put unprecedented pressure to commercial activity. In this period the impairment of trade receivables increased, mainly in Telefonica Hispam, with a subsequent improvement in the second half of the year (see Note 14). The decrease in revenues was partially mitigated by the measures taken to reduce costs and by lower churn rates. Furthermore, CapEx was reduced 33.3% year-on-year (see Note 4), consequently the impact in the operating cash flow was lower than the impact in the income. The crisis contributed to the significant depreciation against the euro of the major currencies of the countries where the Group operates, as shown below. Variation of closing exchange rate (12/31/2020 vs 12/31/2019) Variation of average exchange rate (2020 vs 2019) Brazilian real (29.0 %) (24.1 %) Pound sterling (5.2 %) (1.3 %) Peruvian nuevo sol (16.2 %) (6.1 %) Argentine peso (34.8 %) (34.8 %) Chilean peso (3.6 %) (12.9 %) Colombian peso (12.6 %) (12.6 %) Mexican peso (13.3 %) (11.5 %) This depreciation had a negative impact in Equity attributable to equity holders of the parent amounting to 5,801 million euros (see Note 17). Due to the indications of impairment during the year, the Group carried out goodwill impairment tests at interim periods, with a special emphasis on those cash generating units with a carrying value closer to the value in use at December 31, 2019. At year-end closing these analysis were updated, based on the latest business plans of the various cash-generating units, approved by Telefónica's Board of Directors. These plans include the impacts of the COVID-19 crisis. As a result of this analysis, an impairment loss was recognized for the total goodwill allocated to Telefónica Argentina amounting to 519 million euros (see Note 7). in addition, an impairment loss for intangible assets amounting to 106 million euros (see Note 6) and an impairment loss for property, plant and equipment amounting to 269 million euros (see Note 8) were recognized for this cash generating unit (CGU). As a result of the impairment of these assets, the deferred tax liability associated with the hyperinflation adjustment in Argentina was partially derecognized, amounting to 94 million euros (see Note 25). Furthermore, the recoverability of deferred tax assets of the Group was analyzed based on the new business plans and the estimation of realization of these assets, taking into account the latest regulatory changes. As a result of this analysis, deferred tax assets amounting to 101 million euros were derecognized, corresponding to the tax group in Spain (see Note 25). Throughout the crisis, in order to support the communities in which the Group operates, Telefónica implemented measures aimed at: • Protecting the health and safety of its employees and customers. • Providing critical infrastructure and technology services to governments and health authorities. • Donating goods and services to hospitals and vulnerable customers. • Making the Group's high-tech buildings available for public use (O2 Arena in London and O2 Tower in Munich). • Providing customers with free mobile data and additional entertainment services at no extra cost. • Accelerating payments to suppliers with liquidity problems and offering flexible payments terms. • Maintaining the 2020 dividend for shareholders; with enhancing financial flexibility with a voluntary scrip dividend (see Note 17). On the other hand, the governments of the different countries where the Group operates established temporary regulatory measures that affected the telecommunications sector such as ban on suspending service due to debt and suspension of number portability operations (see "Regulation on COVID-19" in Appendix VI). In addition, in most countries Telefónica operators agreed with the governments to offer packages of minimum connectivity at a reduced or free price, along with free access to specific platforms (health, emergency services, education, information). Telefónica's state-of-the-art networks enabled the Group to facilitate record growth in traffic driven by remote working and increased consumption of entertainment services while maintaining high levels of customer experience and service quality. Agreement between Telefónica and Liberty Global plc to combine their operating businesses in the UK On May 7, 2020, Telefónica reached an agreement with Liberty Global plc to combine into a 50-50 joint venture their operating businesses in the UK (O2 Holdings Ltd. and Virgin Media UK, respectively). The transaction is expected to deliver significant value to Telefónica, which expects to receive 5.7 billion pounds sterling of proceeds in total (calculated at the date of the agreement and subject to customary adjustments in this type of transactions), after an equalization payment by Liberty Global of 2.5 billion pounds sterling. This move is fully aligned with the Telefonica strategy to focus on improving market positioning in its core markets. It will enable Telefónica to reinforce its presence and continuity in this market through the creation of an integrated communications provider in the United Kingdom that will offer their customers a convergent value proposition. Accordingly, Telefónica United Kingdom remains as a reportable segment (see Note 4). The transaction is subject to regulatory approvals and other customary closing conditions. As of the date of this Annual Report, such conditions have not been satisfied. The companies included in the transaction have been recognized as a disposal group held for sale (see Note 3m). Therefore, the consolidated assets and liabilities have been reclassified under ‘‘Non-current assets and disposal groups held for sale’’ and ‘‘Liabilities associated with non-current assets and disposal groups held for sale’’, respectively, in the consolidated statement of financial position at December 31, 2020 (see Note 30). Agreement between Telxius Telecom and American Tower Corporation for the sale of its telecommunications towers divisions in Europe and Latin America On January 13, 2021 Telxius Telecom, S.A. (a company of the Telefónica Group minority-owned, directly or indirectly, by KKR and Pontegadea), signed an agreement with American Tower Corporation ("ATC") for the sale of its telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (Brazil, Peru, Chile and Argentina), for an amount of 7.7 billion euros, payable in cash. The agreement establishes the sale of a number of approximately 30,722 telecommunication tower sites and comprises two separate and independent transactions (on one hand, the Europe business and, on the other hand, the Latin American business), setting the respective closings once the corresponding regulatory authorizations have been obtained. The agreement include the transfer to ATC of the towers that Telxius agreed to acquire from Telefónica Germany GmbH & Co. under the agreement signed on June 8, 2020, including the towers acquired in the first phase on September 1, 2020 and the towers that will be acquired in the second phase by August 2021 (see Note 4). In accordance with IFRS 5, the companies of the Telxius Group included in the transaction have been recognized as a disposal group held for sale in the consolidated statement of financial position at December 31, 2020 (see Note 30). The non-current assets will cease to be amortized and depreciated for accounting purposes from December 31, 2020. Acquisition of a 50% stake in Prosegur’s alarm business in Spain On September 17, 2019 Telefónica, S.A. reached an agreement with Prosegur Compañía de Seguridad, S.A. (“Prosegur”) for the acquisition of a 50% stake in Prosegur's alarm business in Spain, with the objective of developing said business through the combination of the complementary capabilities of both companies. On February 28, 2020, after obtaining the relevant regulatory approvals, Telefónica de Contenidos, S.A.U. acquired 50% of the shares in Prosegur Alarmas España, S.L. The price was paid with 49,545,262 shares in Telefónica (see Note 17), with a valuation amounting to 266 million euros at the date of the transaction. This investment has been registered in the line of "Investments accounted for by the equity method" of the statement of financial position (see Note 10). Impact of adopting IFRS 16 Leases On January 1, 2019 IFRS 16 Leases ("IFRS 16") became effective, resulting in changes in the accounting policies applied to lease contracts in prior periods. IFRS 16 requires lessees to recognize assets and liabilities arising from lease contracts in the statement of financial position. A lessee may elect not to apply the general requirements to short-term leases and leases of low-value assets. The Group acts as a lessee on a very significant number of lease agreements over different assets. This mainly include third-party towers, circuits, office buildings and stores and land where its own towers are located. A significant portion of these contracts was accounted for as operating lease under the previous lease standard, with lease expenses being recognized on a straight-line basis over the contract term. The implementation of IFRS 16 in the Group was highly complex due to factors such as the high number of contracts affected and the diversity of data source systems, as well as the need to make certain estimates. These estimates included 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, assumptions are required to calculate the discount rate, which is based mainly on the incremental borrowing rate of interest for the estimated term. 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 recognized at the date of initial application. The Group adopted the latter transition method; therefore, the Group recognized the cumulative effect of initial application as an adjustment to equity at the transition date, January 1, 2019, amounting to 16 million euros (see Note 17). Consequently, the 2018 information presented for comparative purposes were not restated (i.e., it is prepared and presented in accordance with the accounting standard effective at that moment: under IAS 17 Leases). Moreover, the Group applied 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 identified as leases under the previous accounting standard. The modifications introduced by IFRS 16 had a significant impact on the group's financial statements since the date of adoption, as shown below: Millions of euros Impact of the first application Opening balance of rights of use at January 1, 2019 (Note 9) 7,870 Impact of IFRS 16 on rights of use of companies held for sale at December 31, 2018 (1) 155 Reclassification of property, plant and equipment deriving from finance leases under IAS 17 (Note 8) (249) Reclassification of advance payments of lease contracts in force at December 31, 2018 (178) Accounts receivable for subleases 18 Impact of IFRS 16 on assets at transition date 7,616 Opening balance of lease liabilities at January 1, 2019 (Note 20) 7,705 Impact of IFRS 16 on lease liabilities of companies held for sale at December 31, 2018 (1) 152 Reclassification of finance lease liabilities under IAS 17 at December 31, 2018 (201) Reclassification of other liabilities at December 31, 2018 (56) Impact of IFRS 16 on liabilities at transition date 7,600 Impact of IFRS 16 on equity at transition date (Note 17) 16 (1) Antares, Telefónica Móviles Guatemala and Telefónica Móviles El Salvador (see Note 30) . Following is a summary of estimated impacts of IFRS 16 on the Group’s consolidated income statement in 2019, presented on a voluntary basis: Millions of euros 2019 INCOME STATEMENT IFRS 16 IAS 17 IFRS 16 Impact Revenues 48,422 48,422 — Other income 2,842 3,032 (190) Supplies (13,635) (14,490) 855 Personnel expenses (8,066) (8,070) 4 Other expenses (14,444) (15,284) 840 Depreciation and amortization (10,582) (8,950) (1,632) OPERATING INCOME 4,537 4,660 (123) Share of income (loss) of investments accounted for by the equity method 13 13 — Finance income 842 842 — Exchange gains 2,461 2,449 12 Finance costs (2,795) (2,599) (196) Exchange losses (2,340) (2,310) (30) Net financial expense (1,832) (1,618) (214) PROFIT BEFORE TAX 2,718 3,055 (337) Corporate income tax (1,054) (1,104) 50 PROFIT FOR THE YEAR 1,664 1,951 (287) Attributable to equity holders of the Parent 1,142 1,383 (241) Attributable to non-controlling interests 522 568 (46) Basic and diluted earnings per share attributable to equity holders of the parent (euros) 0.16 0.20 (0.05) The impact in Other income is due to the different approach under IFRS 16 to determine the gain on sale and leaseback transactions (see Note 20). In addition, the statement of cash flows is also impacted by IFRS 16. The main impact is the recording within the “cash flow from financing activities” of principal payments for lease contracts amounting to 1,787 and 1,518 million euros in 2020 and 2019, respectively (see Note 20), as well as the recording of interests related to said contracts under the heading “interest payments and other financial expenses” amounting to 179 million euros and 185 million euros in 2020 and 2019, respectively (see Note 20). Until the entry into force of IFRS 16 the operating leases payments were recorded under "Cash paid from operations". Payments for low cost and short-term leases continue to be recorded under "Cash received from operations" (see Note 9). Translation of Telefónica Venezolana’s financial statements Venezuela has been considered a hyperinflationary economy since 2009. We regularly review 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. On August 20, 2018 Venezuela introduced the Bolivar Soberano (VES), which replaced the Bolívar Fuerte (VEF) removing five zeros (1 VES = 100,000 VEF). In light of the economic environment and in the absence of official rates that are representative of the situation in Venezuela, the Group maintained its policy for estimating an exchange rate to match the progression of inflation in Venezuela and attempts to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements more accurately (hereinafter, synthetic exchange rate). At December 31, 2020, the synthetic exchange rate was calculated considering the inflation rates that were published (2,959.8% from January to December 2020). The inflation rate published for January to December 2019 was 9,585.5%. Thus, the exchange rate used to translate the financial statements of the Venezuelan subsidiaries as of December 31, 2020 amounts to 2,094,405 VES/USD (68,448 VES/USD as of December 31, 2019). The official reference exchange rate at December 31, 2020 was 1,107,199 VES/USD (46,621 VES/USD at December 31, 2019). The translation of the financial statements of Telefónica Venezolana in 2020 had a negative impact in retained earnings amounting to 26 million euros (-212 million euros in 2019). The following table presents the figures of Telefónica Venezolana in certain items of the consolidated income statement, the consolidated statement of cash flows and the consolidated statement of financial position of the Telefónica Group, by applying the synthetic exchange rate: Millions of euros 2020 2019 2018 Revenues 72 79 18 Depreciation and amortization (13) (10) (67) Operating income (13) 7 (64) Net financial expense (1) 24 63 216 Profit before tax 37 70 152 Corporate income tax (2) (9) 3 (186) Result for the year 28 73 (34) Net cash flow provided by operating activities (1) 14 7 Capital expenditures (CapEx) 17 20 2 Non-current assets 51 43 238 (1) Mainly resulting from the hyperinflation adjustment to the net monetary position and the exchange differences arising from foreign currency items held by Telefónica Venezolana. (2) Mainly deferred tax recognized for the inflation adjustments of the net assets, which are not deductible according to the present tax regime in Venezuela. Change in accounting policy for the presentation of hyperinflation effects in equity Since 2018, the Group includes all the equity effects derived from hyperinflation, i.e.: (a) the restatement for inflation of the financial statements of the Group companies operating in hyperinflationary economies, and (b) the effects of translating their respective financial statements into euros using the exchange rate at the end of the period, in a single line item under the heading Retained Earnings. In March 2020, the International Financial Reporting Standards Committee (IFRIC) released its interpretation in this regard, indicating that these impacts should be recorded either separately, the former in Retained Earnings and the latter in Translation Differences, or jointly recognized as Translation Differences under the heading Other Comprehensive Income. As a result, in 2020 the Group adopted this presentation policy and now presents the equity effects of hyperinflation under Translation Differences, within Other Comprehensive Income, rather than under the heading Retained Earnings. The consolidated net equity is not modified by this change in presentation. In accordance with IAS 8, financial information from previous years presented for comparative purposes has been restated so that the information is comparable. Consequently, the Retained Earnings heading no longer includes the cumulative effects arising from hyperinflation in Venezuela and Argentina, which have been reclassified to Translation Differences amounting to 5,664 million euros at 31 December 2019 and 5,406 million euros at 31 December 2018. As this change in accounting policy is a reclassification within equity, the basic and diluted earnings per share figures are not affected in any of the periods presented. Sale of Antares On November 8, 2018, Telefónica reached an agreement with Grupo Catalana Occidente for the sale of 100% of Seguros de Vida y Pensiones Antares, S.A. for a total amount of 161 million euros. At December 31, 2018, the assets corresponding to Antares were classified as non-current assets and disposal groups held for sale and the liabilities as liabilities associated with non-current assets and disposal groups held for sale, amounting to 793 million euros and 661 million euros, respectively. On February 14, 2019, after obtaining the relevant regulatory approvals, the sale was concluded. This transaction generated a gain in the consolidated income statement of 2019 amounting to 98 million euros, under "Other income". In addition, it involved an equity reclassification between "Actuarial gains and losses and impact of limit on assets for defined benefit pension plans" and "Retained earnings" amounting to 89 million euros. Sale of Telefónica Móviles Guatemala and Telefónica Móviles El Salvador On January 24, 2019, Telefónica Centroamérica Inversiones, S.L. (60% of which is owned, directly and indirectly, by Telefónica and 40% of which is owned by Corporación Multi Inversiones), reached an agreement with América Móvil, S.A.B. of C.V. for the sale of the entire share capital of Telefónica Móviles Guatemala, S.A. and 99.3% of Telefónica Móviles El Salvador, S.A. de C.V. The aggregate consideration for both companies (enterprise value) was 648 million US dollars (approximately 570 million euros at the exchange rate on the date of the agreement, 293 million euros of which corresponded to Telefónica Móviles Guatemala and 277 million euros of which corresponded to Telefónica Móviles El Salvador). The closing of the sale of Telefónica Móviles Guatemala took place the same day. This transaction did not have a significant impact in the consolidated financial statements of 2019. Due to the exclusion of Telefónica Móviles Guatemala from the scope of consolidation, the Equity attributable to non-controlling interests decreased by 114 million euros. The closing of the Telefónica El Salvador sale was pending approval by the competition authority. In 2020, Telefónica and América Móvil, S.A.B. of C.V. terminated the purchase agreement, after careful consideration by both parties of the conditions to obtaining regulatory approval established by the Superintendencia de Competencia. As a consequence, Telefónica El Salvador ceased to be classified as disposal group held for sale (see Note 30). Sale of Telefonía Celular de Nicaragua, Telefónica Móviles Panamá and Telefónica de Costa Rica On February 20, 2019 Telefónica reached an agreement with Millicom International Cellular, S.A. for the sale of the entire share capital of Telefónica de Costa Rica TC, S.A., and for the sale by Telefónica Centroamérica Inversiones, S.L. of the entire share capital of Telefónica Móviles Panamá, S.A. and Telefonía Celular de Nicaragua, S.A. The aggregate amount of the transaction (enterprise value) for all the companies was 1,650 million US dollars (approximately 1,455 million euros at the exchange rate of the date of the agreement). On May 16, 2019, after obtaining the relevant regulatory approvals, Telefónica Centroamérica de Inversiones, S.L. transferred the entire share capital of Telefonía Celular de Nicaragua, S.A. to Millicom International Cellular, S.A. for an amount of 437 million US dollars, approximately 390 million euros at that date. The impact of this transaction in the consolidated income statement for 2019 amounted to 172 million euros, under "Other income" (Note 26). On August 29, 2019, after obtaining the relevant regulatory approvals, the entire share capital of Telefónica Moviles Panamá, S.A. was transferred to Cable Onda S.A. (subsidiary of Millicom International Cellular, S.A.), for an amount of 594 million US dollars, approximately 536 million euros at that date. The impact of this transaction in the consolidated income statement of 2019 amounted to 190 million euros, under "Other income" (Note 26). As a result of the exclusion of Telefonía Celular de Nicaragua, S.A. and Telefónica Móviles Panamá, S.A. from the scope of consolidation, the Equity attributable to non-controlling interests decreased by 112 million euros and 188 million euros, respectively. In March 2020, Telefónica informed Millicom that, once the pertinent regulatory authorizations had been obtained and all the other conditions established in the aforementioned agreement for the execution of the sale had been completed, the execution of the contract and the closing of the transaction should be in April 2020. Millicom expressed its refusal to proceed with the closing, arguing that one of the Costa Rican administrative authorities had not issued the appropriate authorization. Telefónica filed a lawsuit against Millicom before the New York Supreme Court, considering that Millicom had breached the terms and conditions established in the sale contract, demanding compensation for all damages that this unjustified breach could cause to Telefónica (see Note 29.a). On July 30, 2020, Telefónica reached an agreement with Liberty Latin America Ltd. for the sale of the entire share capital of Telefónica de Costa Rica TC, S.A. The enterprise value of Telefónica Costa Rica is 500 million U.S. dollars (approximately 425 million euros at exchange rate of the date of the agreement). At the date of issue of these consolidated financial statements, the closing of the transaction is subject to the pertinent regulatory approvals. At December 31, 2020 Telefónica Costa Rica maintained its classification as disposal group held for sale (see Note 30). Individual Suspension Plan On September 27, 2019, Telefónica Spain signed the II Collective Agreement of Related Companies (CEV), wholly backed by the largest labor unions. The overall resources plan that was approved is based on: • Evolution of the Collective Agreement of Related Companies, in order to have a framework of employment stability with greater flexibility and continue advancing on work-life balance and diversity, including, among other proposals, an Individual Suspension Plan which is entirely voluntary for 2019 (with the same conditions as the previous one). • Training, reskilling and upskilling plan that enables improving skills and taking advantage of the potential of the current staff, focusing on new business needs (digitization, robotization and processes automation). The present value of the payment flows of the Plan, together with the update of the estimates of the previous plan and the provision for the training plan resulted in expenses amounting to 1,732 million euros before taxes, reflected in "Personnel expenses" of the accompanying consolidated income statement for 2019 (see Note 24). The update of the provision of the plan included in the previous collective agreement, together with the updated termination plans, entailed an expense of 297 million euros in the 2018 consolidated income statement (see Note 24). Sale of a portfolio of data centers businesses On May 8, 2019, Telefónica reached an agreement for the sale of a portfolio of 11 data centers located in seven jurisdictions (Spain, Brazil, USA, Mexico, Peru, Chile and Argentina) with a company controlled by Asterion Industrial Partners SGEIC (currently, Nabiax, S.A.) for a total amount of 550 million euros. The total capital gain reflected in "Other income" generated in 2019 for the sale of these businesses amounted to 213 million euros (Note 26). Transformation of the operating model of Telefónica México On November 21, 2019 Pegaso PCS, S.A. de C.V. (Telefónica México) and AT&T Comunicaciones Digitales, S. de R.L. de C.V. (AT&T Mexico) entered into a Wholesale Access Services Agreement (see Note 29.c), under which AT&T Mexico will provide wholesale wireless access to Telefónica México on 3G, 4G and any other future technology available in Mexico. The Wholesale Agreement will be of a minimum duration of eight years, renewable for additional consecutive periods of three years. Such Wholesale Agreement established a gradual migration of Telefónica Mexico’s traffic to AT&T Mexico's access network over the first three years of the agreement. As such migration is carried out, Telefónica México’s wireless access infrastructure will be turned off and, consequently, Telefónica México will discontinue using the licensed spectrum used in the past to operate its network. The main impacts of the transformation of the operating model of Telefónica México in 2019 consolidated financial statements were as follows: • A provision amounting to 167 million euros with a counterparty in Other expenses (see Note 26) due to the impact in certain pre-existing service contracts (energy supply, access to fiber optic networks and others), and additional restructuring expenses amounting to 44 million euros. • A net loss amounting to 27 million euros, due to the partial return of spectrum licenses, -123 million euros corresponding to fully paid licenses (see Notes 6 and 26), and +95 million euros corresponding to licenses with deferred payments (associated debt) that were released (see Note 26). • Accelerated depreciation of property, plant and equipment and amortization of rights of use due to the reduction of the useful lives of certain assets, with an impact of 36 million euros in the 2019 consolidated income statement. • Reduction of payables for spectrum acquisition amounting to 508 million euros due to the cancelation of the debt associated with the licenses that were returned (see Note 21). Additionally, in 2019 Telefónica Mexico reversed deferred tax assets with a counterparty in Corporate income tax, amounting to 454 million euros (see Note 25), due to the new estimations regarding the time horizon in which the Group expects to recover the assets. In 2018 Telefónica Mexico had reversed deferred tax assets amounting to 327 million euros. 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 1 SP (City) 2 SP (Interior) 2' SP - towns of sector 33 of the GPLG 3 RJ and ES 4 MG 4' MG - towns of sector 3 of the GPLG 5 PR and 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 and TO 7' GO - towns of sector 25 of the GPLG 7'' MS - towns of sector 22 of the GPLG 8 AM, AP, MA, PA and RR 9 BA and SE 10 AL, CE, PB, PE, PI and 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, Comendad |
Accounting Policies
Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
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 has been considered 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 2,959.8%, 9,585.5% and 2,106,600.6% for 2020, 2019 and 2018, 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 in the consolidated financial statements, amounting to 2,094,405 bolivars per U.S. dollar (synthetic exchange rate, see Note 2), 68,448 bolivars per U.S. dollar (synthetic exchange rate) and 7,608 bolivars per U.S. dollar (synthetic exchange rate) as of December 31, 2020, 2019 and 2018, respectively. In 2018 Argentina became a hyperinflationary economy (see Note 2). In order to restate its financial statements, the Company uses the series of indices defined by resolution JG No. 539/18 issued by the Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE), based on the National Consumer Price Index (IPC) published by the Instituto Nacional de Estadística y Censos (INDEC) of the Argentine Republic and the Wholesale Internal Price Index (IPIM) published by FACPCE. The cumulative index at December 31, 2020, 2019 and 2018 is 385.9%, 283.4% and 184.9%, respectively, while on an annual basis the index for 2020 is 36% (53% and 48% in 2019 and 2018, respectively). The exchange rate used to translate inflation-adjusted items denominated in Argentine pesos in the 2020 financial statements is the closing exchange rate as of December 31, 2020 which was 103.23 Argentine pesos per euro (67.26 and 43.30 Argentine pesos per euro at December 31, 2019 and 2018, respectively). The Group includes in a single line item ("Translation Differences") all the equity effects derived from hyperinflation. This is as follows: (a) the restatement for inflation of the financial statements of the Group companies operating in hyperinflationary economies, and (b) the effects of translating their respective financial statements into euros using the exchange rate at the end of the period. b) Translation methodology The income statements and statements of cash flows of the Telefónica Group’s foreign subsidiaries (except Venezuela and Argentina) 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 at the least, 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 these types 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 and 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 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, provided that 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 fulfillment of the arrangement is dependent on the use of a specific asset and the agreement conveys a right to the use of the asset. At the inception date of the lease (i.e. the date when the underlying asset is available for use), a lessee recognizes a right of use asset that represents the right to use the underlying asset over the term of the lease, and a lease liability for the present value of the lease payments payable over the lease term – discounted using the incremental borrowing rate at the start date of the lease. Rights of use assets are measured at cost, less accumulated depreciation and impairment losses, and are adjusted for any remeasurement of lease liabilities. The cost of rights of use assets includes the amount of initial direct costs incurred and lease payments made before the commencement date less incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the estimated useful life of the underlying asset and the lease term. Lease payments include fixed payments (including in-substance fixed payments) less any lease incentive receivable, variable lease payments that depend on an index or rate, and amounts expected to be paid as residual value guarantees. Similarly, the measurement of the lease liability includes the exercise price of a purchase option, if the lessee is reasonably certain to exercise that option, and payments of penalties for early termination, if the lease term reflects the lessee exercising such cancellation option. After the commencement date, the amount of the lease liabilities is increased to reflect the accrual of interest and reduced for the payments made. In addition to this, the carrying amount of the lease liability is remeasured in certain cases, such as changes in the lease term, changes in future lease payments resulting from a change in an index or rate used to determine those payments. The amount of such remeasurement is generally recognized against an adjustment to the right-of-use asset. The Group uses the "low value" asset lease recognition exemption for office equipment and the short-term lease recognition exemption for all leases with a term of 12 months or less. Therefore, lease payments in such cases are recognized as an expense on a straight-line basis over the lease term. The Group recognizes non-lease components separately from lease components for those classes of assets in which non-lease components are significant with respect to the total value of the arrangement. The Group determines the lease term as the non-cancellable term of the contract, together with any period covered by an extension (or termination) option whose exercise is discretionary for the Group, if there is reasonable certainty that it will be exercised (or it will not be exercised). In its assessment, the Group considers all available information by asset class in the industry and evaluates all relevant factors (technology, regulation, competition, business model) that create an economic incentive to exercise or not a renewal/cancellation option. In particular, the Group takes into consideration the time horizon of the strategic planning of its operations. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is within its control that may affect its ability to exercise (or not to exercise) an option to extend or terminate (for example, a change in business strategy). Where the Group acts as a lessor, leases are classified between operating and finance leases. Leases in which the lessor retains a significant portion of the risks and rewards of ownership of the leased asset are treated as operating leases. Otherwise, the lease is a finance lease. 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. Upon the sale or contribution of a controlled business to an associate or joint venture, the Group measures and recognizes any retained interest at its fair value. Any difference between the carrying amount of the business contributed and the fair value of the retained investment and the consideration received from disposal is recognized in full in profit or loss. i) Financial assets and liabilities Financial Assets 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. The Group applies an impairment model for financial assets based on expected credit losses, using a simplified method for certain short- and long-term assets (commercial receivables, lease receivables and contractual assets). Under this simplified approach, credit impairment is recognized by reference to expected credit losses over the life of the asset. For this purpose the Group uses matrices based on historical bad debt experience by geographical area on a portfolio segmented by customer category according to credit pattern. The matrix for each category has a defined time horizon divided into intervals in accordance with the collection management policy and is fed with historical data that covers at least 24 collection cycles. This data is updated on a regular basis. Based on the information observable at each close, the Group assesses the need to adjust the rates resulting from these matrices, considering current conditions and future economic forecasts. 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 flow hedges, which are highly effective, are recognized in equity. The ineffective portion is recognized immediately in the income statement. Fair value changes recognized in equity arising 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. Inventories include audio-visual rights which will generally be consumed in a period of less than twelve months, and advanced payments to suppliers for future rights, as well as own content whose production cycle will in no case exceed thirty-six months. The cost of film, documentary, short film and series rights acquired from third parties is charged to the income statement on a straight-line basis from the time of first broadcasting or release until the completion of the rights. Broadcasting rights to football and motor sports events, including their inherent production costs, are charged to the income statement on a straight-line basis over twelve months from the start of the season, while rights to other premium sports are charged over the period of the competition. All other sports rights are recognized in the income statement upon first broadcast. In-house produced programs and series and program titles are charged at the time of their broadcast or up to thirty-six months from the date of release, depending on their nature and broadcasting strategy. The cost of in-house productions that the Group expects to recover through sale to third parties is recognized as an intangible asset. The cost of broadcasting rights that have expired or whose recovery value is estimated to be lower than the acquisition cost is recognized directly as an expense. 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) Revenues 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 fixed and wireless traffic is recognized as revenue as service is provided. For prepaid calls, the amount of unused traffic generates deferred revenues presented in Contractual liabilities on the statement of financial position. 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 the income statement as they are consumed. Interconnection revenues from fixed-wireless and wireless-fixed 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 fixed, wireless, Internet and television businesses it is determined whether it is necessary to identify the separate performance obligations and apply the corresponding revenue recognition policy to each one. Total package revenues are allocated among the identified performance obligations based on their respective standalone selling prices. As connection or initial activation fees, or upfront non-refundable fees, are not separately identifiable performance obligations in these types of packages, any consideration received from the customer for these items is allocated to the remaining elements. When the customer has a right of return, the agreed consideration is considered variable. The Group estimates the amount of variable consideration to which it is entitled using the expected value method (probability-weighted possible amounts), considering all historical, current and forecast information that is reasonably available, and only to the extent that it determines that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Expenses relating to customer contracts (mainly, commissions payable to dealers for customer acquisitions) are recognized as an asset to the extent that they are incremental and are expected to be recovered. Subsequently, these costs are amortized over the same term as the revenues associated with such contract are recognized, unless the expected amortization period is one year or less, in which case they are expensed as incurred. m) Non-current assets held for sale The Group classifies non-current assets and disposal groups as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. Non-current assets and disposal groups classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell and are presented separately in the statement of financial position as “Non-current assets and disposal groups held for sale” and “Liabilities associated with non-current assets and disposal groups held for sale”. Once classified as held for sale property, plant and equipment and intangible assets (including right-of-use assets) are no longer depreciated or amortized. The criteria for held for sale classification is regarded as met only when the Group determines the sale to be highly probable: management is committed to a decision to sell and all actions required to complete the sale indicate that it is unlikely that significant changes to the sale will be made or that the decision will be withdrawn. In addition, the asset or disposal group is available for immediate sale in its present condition (subject only to terms that are usual and customary for such transactions) and the sale is expected to be completed within one year from the date of the classification. n) 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. As mentioned in Note 2 to the Consolidated Financial Statements, COVID-19 has changed the macroeconomic landscape and increased the level of uncertainty about the future economic outlook. This represents a significant challenge for management when making estimates. While the specific areas of significant judgement have not changed, the impact of COVID‑19 has resulted in the application of further judgement within those areas. In addition to this, the associated impacts of COVID 19 are highly dependent on variables that are difficult to predict. Given the evolving nature of the pandemic and the limited recent experience on its economic and social consequences, changes to estimates may need to be made. 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 analysis are disclosed for the most relevant situations (see Notes 7 and 24). 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 on a regular basis 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, the outcome of underway tax proceedings or unforeseen future 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 revenues are allocated among the identified elements based on their respective standalone selling prices. Determining standalone selling prices for each identified element requires estimates that are complex due to the nature of the business. A change in estimates of standalone selling prices could affect the apportionment of revenue among the elements and, as a result, the timing of recognition of revenues. Leases Accounting for rights and obligations as a lessee under a lease contract requires the use of estimations to determine the lease term in contracts that include extension options or early termination options. Determining the lease term involves making estimates over the time horizon of the Group's strategic planning process with respect to relevant factors such as expected technological progress, possible regulatory developments, market and competition trends or changes in the business model. The assumptions regarding these variables involve a significant degree of judgment to the extent that the timing and nature of future changes are difficult to anticipate. Due to the uncertainties inherent to these estimates, changes in the assumptions made in respect of uncertain matters when determining the lease term of a lease contract may have an impact on the amounts of the right of use assets and lease liabilities recognized on the basis of the estimates made by the Group. Exchange rate and inflation rates used to translate the financial statements of our Venezuelan subsidiaries The Group reviews, on a regular basis, the economic conditions in Venezuela and the specific circumstances of its Venezuelan operations. In light of the worsening of the economic and political crisis in Venezuela and in the absence of official rates that are representative of the situation in the country, at December 31, 2020 the Group maintains its policy to estimate an exchange rate that matches the progression of inflation in Venezuela and reflects 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 Venezuelan bolivar-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 Venezuelan bolivar-denominated assets (liabilities). In addition to this, Venezuela has been considered 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 when the official rate is not available. The estimates and underlying assumptions are based on careful consideration of factors that are deemed 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. o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2020 are consistent with those used in the preparation of the Group’s consolidated annual financial statements for the year ended December 31, 2019, with the exception of the following new standards and amendments to existing standards issued by the IASB and adopted by the European Union for application in Europe, which are mandatory for annual periods beginning on or after January 1, 2020: • Amendments to IFRS 3: Definition of a Business The amendment to IFRS 3 clarifies that to be considered a business, an integrated set of activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. The definition of the term ‘outputs’ is amended to focus on goods and services provided to customers, generating investment income and other income, and it excludes returns in the form of lower costs and other economic benefits. The Group's current approach is consistent with these requirements, so the application of these amendments did not have a significant impact on the Group's financial position or results in the period. • Amendments to IFRS 7, IFRS 9 and IAS 39: Interest Rate Benchmark Reform The amendments to I |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Operating Segments [Abstract] | |
Segment Information | Segment information On November 27, 2019, the Board of Directors of Telefónica approved an action plan with five strategic decisions: (i) focus investment and growth in the most important markets of the company: Spain, Brazil, the UK and Germany; (ii) the creation of Telefónica Tech; (iii) the creation of Telefónica Infra, with Telxius as its first asset; (iv) an operational spin-off of Hispanoamérica in a single unit; and (v) the redefinition of the company’s corporate center. The structure of Telefónica's Executive Committee was modified to reflect these changes. Such changes have also resulted in a change to the financial information presented to Telefónica's Management and have resulted in a change of the reporting segments. In 2020 the Telefónica Group is reporting financial information, both internally and externally, according to the following segments: Telefónica Spain, Telefónica United Kingdom, Telefónica Germany, Telefónica Brazil, Telefónica Hispam (formed by the Group's operators in Colombia, Mexico, Venezuela, Ecuador, Argentina, Chile, Peru and Uruguay) and Telxius Group. Furthermore, Telefónica Global Technology, S.A.U., which was previously reported in "Other companies", is now reported in the Telefónica Spain segment. Due to the implementation of the changes referred to above, the comparative results of the segments of the Group for 2019 and 2018, and the comparative segmentation of assets and liabilities as of December 31, 2019 were restated. These changes in the segments have had no impact on the consolidated results of the Group. On May 7, 2020 Telefónica reached an agreement with Liberty Global plc to combine their respective businesses in the United Kingdom and form a joint venture 50% owned by each of such companies (see Note 2). This transaction is fully aligned with Telefonica`s strategy to focus on improving market positioning in its core markets. It will enable Telefónica to reinforce its presence and continuity in this market through the creation of an integrated communications provider in the United Kingdom that will offer their customers a convergent value proposition. Accordingly, Telefónica United Kingdom remains as a reportable segment. From the date of the agreement, the consolidated assets and liabilities subject to the transaction have been reclassified under ‘‘Non-current assets and disposal groups held for sale’’ and ‘‘Liabilities associated with non-current assets and disposal groups held for sale’’, respectively, in the consolidated statement of financial position (see Note 30). Additionally, the non-current assets ceased to be amortized and depreciated for accounting purposes once they were reclassified as assets held for sale. On June 8, 2020 Telefónica’s subsidiary in Germany, Telefónica Germany GmbH & Co. OHG signed an agreement with Telxius Telecom, S.A. to sell approximately 10,100 sites to Telxius for 1,500 million euros, in two phases: in a first moment approximately 60% of the portfolio and the remaining 40% to be acquired by August of 2021. The first phase was completed on September 1, 2020, when Telxius acquired all the shares of the subsidiary Telefónica Germany Mobilfunk Standortgesellschaft mbH which owned approximately 6,000 sites. The results of Telefónica Germany do not include the gain generated in this transaction. On January 13, 2021, Telxius Telecom, S.A. (a company of the Telxius Group), has signed an agreement with American Tower Corporation for the sale of its telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (Brazil, Peru, Chile and Argentina), for an amount of 7.7 billion euros (see Note 2). The consolidated assets and liabilities of the companies of the Telxius Group subject to the transaction have been reclassified under ‘‘Non-current assets and disposal groups held for sale’’ and ‘‘Liabilities associated with non-current assets and disposal groups held for sale’’ (see Note 30), respectively, in the consolidated statement of financial position at December 31, 2020. The impairment losses on goodwill and other non-current assets of Telefónica Argentina, recorded in 2019 and 2020 (see Notes 6, 7 and 8), are included in the Telefónica Hispam segment. In 2019 the sale of the Group operating companies in Guatemala, Nicaragua and Panama was completed (see Note 2). At December 31, 2019 Telefónica Costa Rica and Telefónica Móviles El Salvador were classified as held for sale (see Note 30). The assets, liabilities and results of the Group companies in Central America, and the gains obtained in these transactions, have been reported in "Other companies". The segments referred to above include the information related to the fixed, wireless, cable, data, Internet and television businesses and other digital services provided in each country. Inter-segment transactions are carried out on an arm's length basis. Information relating to other Group companies not specifically included in these segments is reported under "Other companies" (see Appendix I), which includes Telefónica, S.A. and other holding companies, as well as companies whose main purpose is to provide cross-sectional services to Group companies and other operations not included in the segments. The "Eliminations" of the Group at OIBDA level in 2020 and 2019 mainly reflect the leases of Telxius Group to other Group companies, due to the asymmetry in accounting between lessor and lessee under IFRS 16. This impact is mostly offset at operating income level. The Group centrally manages borrowing activities, mainly through Telefónica, S.A. and other companies (see Note 19, Appendix III and Appendix V), so most of the Group's financial assets and liabilities are reported under Other companies. In addition, Telefónica, S.A. is the head of the Telefónica tax group in Spain (see Note 25). Therefore, a significant part of the deferred tax assets and liabilities is included under Other companies. For these reasons, the results of the segments are disclosed up to operating income. Revenues and expenses arising from intra-group invoicing for the use of the trademark and management services were eliminated from the operating results of each Group segment. The results of the holding companies also exclude dividends from Group companies and impairments of investments in Group companies. These adjustments have no impact on the Group’s consolidated results. In addition, segment reporting considers the impact of the purchase price allocation to the assets acquired and the liabilities assumed by the companies included in each segment. The assets and liabilities presented in each segment are those managed by the heads of each segment, regardless 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, CapEx information (capital expenditures in intangible assets and property, plant and equipment, see Notes 6 and 8) and acquisitions of rights of use (since the entry into force of IFRS 16, see Note 9) regarding the Group’s operating segments: 2020 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Revenues 12,401 6,708 7,532 7,422 7,922 826 1,860 (1,595) 43,076 External revenues 12,118 6,666 7,500 7,406 7,786 322 1,288 (10) 43,076 Intersegment revenues 283 42 32 16 136 504 572 (1,585) — Other operating income and expenses (1) (7,355) (4,644) (5,223) (4,234) (6,932) (306) (2,021) 1,137 (29,578) OIBDA 5,046 2,064 2,309 3,188 990 520 (161) (458) 13,498 Depreciation and amortization (2,184) (389) (2,394) (1,965) (2,274) (269) (199) 315 (9,359) Operating income 2,862 1,675 (85) 1,223 (1,284) 251 (360) (143) 4,139 CapEx 1,408 913 1,094 1,372 833 348 106 (213) 5,861 Acquisitions of rights of use 138 116 1,159 768 364 353 25 (909) 2,014 (1) Other operating income and expenses includes “Other income”, “Supplies”, “Personnel expenses” and “Other expenses”. 2019 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Revenues 12,850 7,109 7,399 10,035 9,650 842 2,129 (1,592) 48,422 External revenues 12,528 7,068 7,364 10,018 9,504 360 1,580 — 48,422 Intersegment revenues 322 41 35 17 146 482 549 (1,592) — Other operating income and expenses (1) (9,131) (4,995) (5,073) (5,773) (7,617) (338) (1,589) 1,213 (33,303) OIBDA 3,719 2,114 2,326 4,262 2,033 504 540 (379) 15,119 Depreciation and amortization (2,013) (1,204) (2,463) (2,516) (2,268) (249) (136) 267 (10,582) Operating income 1,706 910 (137) 1,746 (235) 255 404 (112) 4,537 CapEx 1,667 914 2,469 2,005 1,485 284 143 (183) 8,784 Acquisitions of rights of use 127 157 230 409 367 88 37 (123) 1,292 (1) Other operating income and expenses includes “Other income”, “Supplies”, “Personnel expenses” and “Other expenses”. 2018 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Revenues 12,788 6,790 7,320 10,126 9,939 792 2,539 (1,601) 48,693 External revenues 12,461 6,757 7,281 10,105 9,815 334 1,940 — 48,693 Intersegment revenues 327 33 39 21 124 458 599 (1,601) — Other operating income and expenses (1) (7,993) (4,925) (5,486) (5,815) (7,681) (422) (2,325) 1,525 (33,122) OIBDA 4,795 1,865 1,834 4,311 2,258 370 214 (76) 15,571 Depreciation and amortization (1,678) (943) (2,071) (1,990) (2,006) (125) (275) 39 (9,049) Operating income 3,117 922 (237) 2,321 252 245 (61) (37) 6,522 CapEx 1,741 1,464 966 1,910 1,681 181 195 (19) 8,119 (1) Other operating income and expenses includes “Other income”, “Supplies”, “Personnel expenses” and “Other expenses”. The following table presents main assets and liabilities by segment: 2020 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Fixed assets 14,604 — 13,005 14,408 8,692 452 1,140 — 52,301 Rights of use (1) 1,332 — 2,852 1,677 1,117 30 79 (2,105) 4,982 Investments accounted for by the equity method 266 — 2 1 58 — 100 — 427 Financial assets and other non-currents assets 330 — 647 700 773 39 7,979 (3,198) 7,270 Deferred tax assets 2,212 — 473 248 721 29 2,733 — 6,416 Other current financial assets 35 — 67 30 90 3 10,187 (7,917) 2,495 Non-current assets and disposal groups held for sale — 13,264 — — 30 2,062 418 (361) 15,413 Total allocated assets 24,098 13,264 20,266 20,023 14,973 2,840 27,981 (18,394) 105,051 Non-current financial liabilities 758 — 1,577 167 6,149 1,257 37,360 (4,971) 42,297 Non-current lease liabilities 1,074 — 2,326 1,342 1,095 4 82 (1,884) 4,039 Deferred tax liabilities 141 — 405 864 481 18 711 — 2,620 Current financial liabilities 852 — 715 224 1,157 150 9,881 (4,856) 8,123 Current lease liabilities 291 — 514 297 365 8 26 (246) 1,255 Liabilities associated with non-current assets and disposal groups held for sale — 4,897 — — — 917 221 (1,244) 4,791 Total allocated liabilities 16,360 4,897 10,903 6,252 12,960 2,785 51,033 (18,399) 86,791 (1) The eliminations of rights of use mainly correspond to the rights of use for assets leased by Telxius to the operating companies of the Group. 2019 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Fixed assets 15,159 10,051 14,091 20,585 11,881 1,145 753 — 73,665 Rights of use (1) 1,500 716 2,499 1,933 1,382 388 71 (1,550) 6,939 Investments accounted for by the equity method — 9 — 2 73 — 56 — 140 Financial assets and other non-currents assets 167 468 457 1,159 764 55 7,224 (3,171) 7,123 Deferred tax assets 2,384 2 314 337 755 89 2,801 — 6,682 Other current financial assets 42 72 17 67 426 1 5,587 (3,089) 3,123 Non-current assets and disposal groups held for sale 12 — — 1 43 — 762 — 818 Total allocated assets 24,491 13,869 20,143 28,120 20,553 2,184 23,238 (13,721) 118,877 Non-current financial liabilities 775 1,132 2,153 572 2,666 1,148 37,360 (2,518) 43,288 Non-current lease liabilities 1,252 490 2,027 1,582 1,298 281 74 (1,378) 5,626 Deferred tax liabilities 158 101 358 945 572 18 756 — 2,908 Current financial liabilities 854 — 339 464 901 1 12,193 (5,676) 9,076 Current lease liabilities 283 213 462 448 248 117 15 (186) 1,600 Liabilities associated with non-current assets and disposal groups held for sale — — — — — — 380 — 380 Total allocated liabilities 16,067 5,450 10,659 8,599 10,904 2,250 53,216 (13,718) 93,427 (1) The eliminations of rights of use mainly correspond to the rights of use for assets leased by Telxius to the operating companies of the Group. The composition of segment revenues, detailed by the main countries in which the Group operates, is as follows: Millions of euros 2020 2019 2018 Country by segments Fixed Mobile Others and elims. Total Fixed Mobile Others and elims. Total Fixed Mobile Others and elims. Total Spain (*) 12,401 12,850 12,788 United Kingdom 232 6,476 — 6,708 218 6,891 — 7,109 214 6,576 — 6,790 Germany 785 6,730 17 7,532 741 6,647 11 7,399 767 6,539 14 7,320 Brazil 2,531 4,891 — 7,422 3,537 6,498 — 10,035 3,754 6,372 — 10,126 Hispam 2,836 5,070 16 7,922 3,435 6,210 5 9,650 3,468 6,471 — 9,939 Telxius Group 826 826 842 842 792 792 Other and inter-segment eliminations 265 265 537 537 938 938 Total Group 43,076 48,422 48,693 Note: In the countries of Telefónica Hispam segment with separate fixed and mobile operating companies, intercompany revenues were not considered. (*) The detail of revenues for Telefónica Spain is shown in the table below. Given the convergence reached at Telefónica Spain due to the high penetration of convergent offers in Telefónica Spain, the revenue breakdown by fixed and mobile is less relevant in this segment. For this reason, management believes that the revenue breakdown shown below is more meaningful. Millions of euros Telefónica Spain 2020 2019 2018 Retailers 9,906 10,313 10,341 Wholesalers, mobile handsets sales and others 2,495 2,537 2,447 Total 12,401 12,850 12,788 |
Business Combinations and Acqui
Business Combinations and Acquisitions of Non-Controlling Interests | 12 Months Ended |
Dec. 31, 2020 | |
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 There were no significant business combinations in 2020, 2019 and 2018. Transactions with non-controlling interests 2018 Sale of 9.99% of the total share capital of Telxius On July 27, 2018, Telefónica transferred to a subsidiary of the Pontegadea Group 16.65% of the share capital of the Telefónica's subsidiary Pontel Participaciones, S.L. (Pontel), which owns 60% of the share capital of Telxius Telecom, S.A. (Telxius), for an amount of 378.8 million euros, resulting in a price of 15.2 euros per share of Telxius. This holding of 16.65% in the capital stock of Pontel is equivalent, in economic terms, to an indirect holding of 9.99% in the share capital of Telxius. The impact of this transaction on the equity attributable to equity holders of the parent amounted to 232 million euros and the impact on equity attributable to non-controlling interest amounted to 139 million euros. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Intangible Assets [Abstract] | |
Intangible Assets | Intangible assets The composition of and movements in net intangible assets in 2020 and 2019 are as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Amortization Disposals Impairments Transfers and others Translation differences and hyperinflation adjustments Balance at 12/31/2020 Service concession arrangements and licenses 8,566 32 (1,001) (33) (106) 151 (1,036) 6,573 Software 2,980 467 (1,305) — (2) 542 (302) 2,380 Customer base 1,666 6 (372) — — (4) (58) 1,238 Trademarks 640 — (51) — — (2) (75) 512 Other intangible assets 52 11 (6) — — (2) (4) 51 Intangible assets in process 2,130 595 — — — (1,940) (51) 734 Total intangible assets 16,034 1,111 (2,735) (33) (108) (1,255) (1,526) 11,488 (1) Total additions of intangible assets in 2020 amounted to 1,266 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 2) . 2019 Millions of euros Balance at 12/31/2018 Additions (1) Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Exclusion Balance at 12/31/2019 Service concession arrangements and licenses 9,995 25 (1,227) (495) 333 23 (88) 8,566 Software 2,940 420 (1,464) (4) 1,113 (6) (19) 2,980 Customer base 2,138 — (478) — 9 (3) — 1,666 Trademarks 690 — (58) — — 8 — 640 Other intangible assets 77 15 (21) — (18) (1) — 52 Intangible assets in process 1,016 2,267 — (1) (1,146) — (6) 2,130 Total intangible assets 16,856 2,727 (3,248) (500) 291 21 (113) 16,034 (1) Total additions of intangible assets in 2019 amounted to 2,733 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2). Additions of spectrum in 2020, including the additions corresponding to "Non-current assets and disposal groups held for sale", amounted to 126 million euros (1,501 million euros in 2019). A reclassification amounting 1,381 million euros between the lines "Intangible assets in process" and "Service concession arrangements and licenses" was made in 2020, corresponding to the majority of the spectrum licenses acquired by Telefonica Germany in 2019. In June 2019, as part of the 5G frequency auction, Telefónica Germany acquired a total of 90 MHz of spectrum in the 2 GHz and 3.6 GHz bands, for a total amount of 1,425 million euros. The German Federal Network Agency assigned the frequency blocks in August 2019: • At 2 GHz, a paired block of 5 MHz with a running time from 2021, and a paired block of 5 MHz with a running time from 2026; and • At 3.6 GHz, seven unpaired blocks of 10 MHz each, which will be made available gradually by 2022 at the latest. In September 2019, Telefónica Germany, like the other auction participants, reached an agreement to pay in annual installments until 2030, beginning in December 2019, instead of one-time payment (see Note 21 and Appendix VI). In addition, in 2019 Telefónica Uruguay acquired spectrum in the 2.6 GHz band for 26 million euros. Disposals of "Service concession arrangements and licenses" in 2019 corresponded to the licenses to use spectrum of Telefónica Mexico (see Note 2). "Impairments" in 2020 corresponding to "Service concession arrangements and licenses" includes an impairment loss of Telefónica Argentina, amounting to 106 million euros (see Note 7). "Transfers and others" in 2020 include the reclassification of the intangible assets of Telefónica United Kingdom and the telecommunications towers division of Telxius amounting to 1,513 and 36 million euros, respectively, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). In addition, this section includes the reclassification of the intangible assets of Telefónica Móviles El Salvador, amounting to 34 million euros from "Non-current assets and disposal groups held for sale" (see Note 30). "Transfers and others" in 2019 included the reclassification of the intangible assets of Telefónica de Costa Rica amounting to 65 million euros to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). Appendix VI contains the details of the main concessions and licenses which the Group operates. “Exclusion of companies” in 2019 mainly corresponded to the sale of Telefonía Celular de Nicaragua and Telefónica Móviles Panamá amounting to 12 and 100 million euros, respectively (see Note 2). The result of the translation to euros of the intangible assets by the companies of the Group in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a) are shown in the column "Translation differences and hyperinflation adjustments". The gross cost, accumulated amortization and impairment losses of intangible assets at December 31, 2020 and 2019 are as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 7,062 (399) (90) 6,573 Software 15,375 (12,986) (9) 2,380 Customer base 5,071 (3,833) — 1,238 Trademarks 1,720 (1,207) (1) 512 Other intangible assets 940 (888) (1) 51 Intangible assets in process 734 — — 734 Total intangible assets 30,902 (19,313) (101) 11,488 Balance at December 31, 2019 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 20,414 (11,848) — 8,566 Software 17,578 (14,597) (1) 2,980 Customer base 6,544 (4,878) — 1,666 Trademarks 1,887 (1,247) — 640 Other intangible assets 956 (901) (3) 52 Intangible assets in process 2,130 — — 2,130 Total intangible assets 49,509 (33,471) (4) 16,034 Movement in goodwill The movement in goodwill assigned to each Group segment was as follows: 2020 Millions of euros Balance at 12/31/2019 Additions Write-offs Transfers Exchange rate impact Balance at 12/31/2020 Telefónica Spain 4,299 — — — — 4,299 Telefónica Brazil 8,814 — — — (2,556) 6,258 Telefónica Germany 4,819 — — (261) — 4,558 Telefónica United Kingdom 4,847 — — (4,750) (97) — Telefónica Hispam 2,530 — (519) — (233) 1,778 Telxius Group 2 — — (2) — — Others 92 5 — 63 (9) 151 Total 25,403 5 (519) (4,950) (2,895) 17,044 2019 (*) Millions of euros Balance at 12/31/2018 Disposals Additions Write-offs Exchange rate impact Balance at 12/31/2019 Telefónica Spain 4,310 (11) — — — 4,299 Telefónica Brazil 8,991 (1) — — (176) 8,814 Telefónica Germany 4,815 — 4 — — 4,819 Telefónica United Kingdom 4,611 — — — 236 4,847 Telefónica Hispam 2,785 (22) — (206) (27) 2,530 Telxius Group 2 — — — — 2 Others 234 (144) 2 — — 92 Total 25,748 (178) 6 (206) 33 25,403 (*) The movement in 2019 has been restated to reflect the new segments of the Group (see Note 4). Following the agreement between Telefónica and Liberty Global plc to combine their businesses in the United Kingdom (see Note 2), the goodwill allocated to Telefonica United Kingdom was reclassified to "Non-current assets and disposals groups held for sale" of the statement of financial position (see Note 30). On June 8, 2020 Telefónica’s subsidiary in Germany, Telefónica Germany GmbH & Co. OHG signed an agreement with Telxius Telecom, S.A. to sell approximately 10,100 sites to Telxius for 1,500 million euros, in two phases: in a first moment approximately 60% of the portfolio and the remaining 40% to be acquired by August of 2021. The first phase was completed on September 1, 2020, when Telxius acquired all the shares of the subsidiary Telefónica Germany Mobilfunk Standortgesellschaft mbH, which owned approximately 6,000 sites. As a result of this transaction, 261 million euros of goodwill originally allocated to Telefónica Germany was allocated to Telxius Group. At December 31, 2020 the goodwill allocated to Telxius Group is classified to "Non-current assets and disposals groups held for sale" of the statement of financial position (see Note 30). In 2020 goodwill decreased by 2,895 million euros due to the depreciation of major currencies against the euro, mainly the Brazilian real (see Note 2). As explained hereafter, in 2020 an impairment loss was recognized on the goodwill allocated to Telefónica Argentina, amounting to 519 million euros, with a balancing entry in “Other expenses” (206 million euros in 2019, see Note 26). Transfers in "Others" in 2020 mainly correspond to the reclassification of the goodwill allocated to Telefónica Móviles El Salvador from "Non-current assets and disposal groups held for sale" (see Note 30). The disposals of goodwill in 2019 in "Others" corresponded to the sale of Telefónica Móviles Panamá and Telefonía Celular de Nicaragua (see Note 2). The rest of disposals in 2019 corresponded to the sale of the data center businesses. Cash-generating units In order to test for impairment, goodwill was allocated to the different cash-generating units (CGUs), which are grouped into the following reportable operating segments: Millions of euros 12/31/2020 12/31/2019 Telefónica Spain 4,299 4,299 Telefónica Brazil 6,258 8,814 Telefónica Germany 4,558 4,819 Telefónica United Kingdom — 4,847 Telefónica Hispam 1,778 2,530 Colombia 170 195 Ecuador 119 130 Chile 826 856 Peru 642 766 Argentina — 557 Uruguay 19 24 Others T. Hispam 2 2 Telxius Group — 2 Others 151 92 TOTAL 17,044 25,403 As explained in Note 2, the COVID-19 crisis has had a significant impact on the results of all cash-generating units, especially as of the second quarter of 2020. This situation represented an impairment indicator, and the Group conducted impairment tests at interim periods, with special emphasis on those cash-generating units whose recoverable value was closest to the carrying amount at 31 December 2019. This analysis considered: i. the plans of the operating businesses in the Telefónica Hispam segment, which were updated during the first quarter of 2020 against the background of the operating spin-off approved on November 27, 2019. These plans reflected an improvement in profitability, through medium- and long-term efficiency measures, which have been addressed in 2020. ii. three calculation models according to the historical relationship between the economic cycle and revenues, both in nominal and real terms, in volume and in growth rates, in order to estimate its impact in the projections in the medium and long term, with three future scenarios (base, pessimistic and optimistic). These scenarios were based on the most recent GDP growth and inflation forecasts available at that date from public and private, local and international public bodies and which can be checked for each of the countries, assigning a probability of occurrence to each scenario based on the distribution of probabilities by prestigious institutions (60%, 30% and 10% respectively). The cash flows projected in the latest 2020 forecasts for the CGUs were the starting point. Another impairment test was conducted at year-end closing. The basis has been the latest business plan of the various cash-generating units to which goodwill is allocated to, approved by Telefónica's Board of Directors. In order to complete the five years of cash flows after the closing year, an additional normalization period was added to the business plans based on the operating ratios until the terminal parameters are reached. The analysts consensus' forecasts are used as a reference. For specific cases, extended business plans are used to cover the five-year period of cash flows, when the normalization period does not properly reflect the expected evolution of the business. Finally, to determine the terminal value of each CGU, a constant free cash flows growth over time is assumed, applying a terminal growth rate. The model used is similar to the dividend discount model developed by Gordon-Shapiro, internationally recognized for business valuations. The process of preparing the CGUs’ business plans considers the current market condition of each CGU, analyzing the macroeconomic, competitive, regulatory and technological environments, as well as the growth opportunities of the CGUs, and the differentiation capabilities compared to the competition based on market projections. A growth target is therefore defined for each CGU, based on the appropriate allocation of operating resources and the capital investments required to achieve the target. In addition, operating efficiency improvements are defined, in line with the strategic transformation initiatives, in order to increase the forecasted operating cash flow. In this process, the Group considers the compliance with business plans in the past. Main assumptions used in calculating value in use CGUs’ value in use are calculated based on the approved business plans. Certain variables are then considered, including the long-term OIBDA margin and the long-term Capital Expenditure ratio (expressed as a percentage of revenue), which are considered the key operating variables to measure business performance and to set financial targets. Finally, the discount rates and the perpetuity growth rates are considered. The main variables considered for the most significant CGUs (Brazil, Spain, United Kingdom and Germany), are described below. Revenues In terms of revenues, the plan assumes a trend towards stability and improvement as of 2022 in local currency. OIBDA margin and long-term Capital Expenditure (CapEx) ratio The values obtained, as described in the previous paragraphs, are compared with the available data of analysts and competitors in the geographic markets where Telefónica Group operates. In Europe, the long-term OIBDA margins two-years estimates of Telefónica Group's analysts are within a range of 39% to 43% for Spain, 31% to 33% for Germany, and 29% to 34% for the UK. Regarding the long-term ratio of CapEx over revenues, the valuations performed for the impairment tests for Spain, Germany and United Kingdom consider the opinions of Telefónica Group’s analysts with regard to investment needs (around 12% for Spain and around 14% for Germany and the United Kingdom). As for the long-term OIBDA margin two-years estimates of Telefónica Group's analysts for the operator in Brazil, it is in a range within 41% to 45%. Regarding investments, the operator will invest a percentage within the range of the investment needs forecasted by analysts (around 16%). Discount rate The discount rate, applied to measure cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and debt according to the finance structure established for each CGU. This rate is calculated using the capital asset pricing model (CAPM), which considers the asset’s systemic risk, and the impact of those risks not already considered on cash flows, such as country risk, business-specific credit risk, currency risk and price risk specific to the financial asset, constantly monitoring the fluctuations of the financial markets. Consequently, the estimations were reviewed, including the impacts of the current economic situation resulting from the COVID-19 crisis. For the United Kingdom, it was considered the uncertainty created by the Brexit, about the new legal framework and the impacts of the restrictions on access to the European single market. For this reason, the cost of capital used in the valuation continues to be stressed, through a higher market premium in line with the implicit one. The most significant components of WACC are summarized as follows: • Risk-Free Rate: defined as the interest rate offered by long-term sovereign bonds. The rate is determined using current market data and equilibrium level estimates (according to standard econometric models, supported by modeling of neutral rates prepared by the central banks themselves) in which the interest rates should be located, thus adjusting the yields, set at low rates due to the high influence of public debt purchased by central banks. • Political Risk Premium: adds the country's insolvency risk due to political and/or financial events; calculation is based on the quoted prices of credit default swaps for each country or, the EMBI+ index published by JP Morgan based on the information available and the liquidity conditions of these swaps. • Equity Risk Premium (ERP): the return in excess that equity assets are expected to yield over the risk-free rate. This is determined using a combination of historical approaches (ex post) backed by external publications and studies based on historical market returns series, and prospective approaches (ex-ante), based on market publications, considering the medium- and long-term profit expectations based on the degree of maturity and development of each country. • Beta Coefficient: a measure of the volatility, or systematic risk, of an equity asset in comparison to the entire market. It is estimated based on a series of historical share prices of comparable companies listed on the stock exchange, to estimate the correlation between the company shares´ returns and the stock market returns, of the country where the company is listed. The main underlying data used in these calculations are obtained from independent and renowned external information sources. The discount rates applied to the cash flow projections in 2020 and 2019 for the main CGUs are as follows: 2020 2019 Discount rate in local currency Before tax After-tax Before tax After-tax Spain 8.4% 6.5% 8.2% 6.2% Brazil 13.6% 11.1% 12.6% 10.0% United Kingdom 7.3% 6.1% 7.8% 6.2% Germany 6.5% 4.8% 7.8% 4.9% Perpetuity growth rate Cash flow projections from the sixth year are calculated using an expected constant growth rate (g), considering the analyst consensus estimates for each business, 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, adjusting any particular case with specific characteristics related to the business evolution. The perpetuity growth rates applied to the cash flow projections in 2020 and 2019 for the main CGUs are as follows: Perpetuity growth rate 2020 2019 Spain 0.8% 1.0% Brazil 4.5% 4.5% United Kingdom 0.8% 0.8% Germany 1.0% 1.1% The perpetuity growth rates for 2020 slightly decreased for Spain And Germany comparing to 2019, being stable for Brazil and the United Kingdom. Europe remains around 1%. In Brazil, the perpetuity growth rate is within the range of the estimations of the analysts, it is consistent with with the Brazilian Central Bank’s medium-term inflation target (within a range between 1.8% and 4.8%) and it is below the forecasted nominal GDP growth rate (which oscillates around 5.5%). Sensitivity to changes in assumptions The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test. Due to the greater uncertainty from the pandemic, the range of variation of the key assumptions was exceptionally increased by 50% with regard to the previous year. Thus, f or the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points (percentage points): Changes in key assumptions, Spain United Kingdom Germany Brazil Financial variables Discount rate +/-0.75 +/-0.75 +/-0.75 +/-1.5 Perpetuity growth rates +/-0.375 +/-0.375 +/-0.375 +/-0.75 Long-term operating variables OIBDA Margin +/-2.625 +/-2.625 +/-2.25 +/-3 Ratio of CapEx/Revenues +/-1.31 +/-1.31 +/-1.13 +/-1.5 The sensitivity analysis revealed a gap between the recoverable value and carrying amount for the main CGUs at December 31, 2020. The impairment test at December 31, 2019 measured the sensitivity to the calculation of the CGU of Telefónica del Perú. The Group has updated the value in use valuation of Telefónica del Peru's, based on the latest approved strategic plan, and considering also various scenarios stressing the operating variables. It was found in this analysis that it was not necessary to record an impairment of the goodwill allocated to Telefónica del Perú. The WACC rate considered is 8.7% and the growth rate in perpetuity is 2.4%. In terms of operating ratios, an OIBDA margin of 30% and a Capex ratio of 11% on average are projected over the plan horizon. As regards the sensitivity of the calculation, the change in each assumption required for the recoverable value to equal Telefónica del Perú's carrying amount is as follows: (i) WACC rate + 2.8 p.p.; (ii) perpetual growth rate -3.8 p.p.; (iii) long-term OIBDA margin: -7.1 p.p.; and (iv) long-term investment ratio: +5.0 p.p. Calculation of the recoverable amount of Telefónica Argentina Argentina is among the most affected countries in the world by COVID-19. The scarce room for an ambitious fiscal package and a long and strict lockdown episode are the main reasons behind this performance. Moreover, recovery is expected to be slower than elsewhere, and pre-pandemic levels of activity are not expected to be reached until at least 2023-24. At the same time, the country remains muddling through an environment of high inflation that, far from being addressed by long-term structural solutions, is being deepened by short-term measures that threaten profitability. In the third quarter of 2020 the Government approved the “Decreto de Necesidad Urgente” (DNU 690/2020), through which (i) the ICTs were declared essential and strategic public services in competition, (ii) the tariffs of the ICTs will be freezed until December 31, 2021, and (iii) the regulator shall regulate the prices in the ICT sector. The Decree asymmetrically conditions its future performance and will have a significant adverse impact on the evolution of the business in the country. Furthermore, the exchange rate duality resulting from the shortage of foreign currency reserves, an unpredictable institutional framework and the need to carry out a broad fiscal adjustment deepen the imbalances that the country will have to address once the pandemic is over. Due to the impairment indicators that were revealed during the year, the Group conducted impairment tests of the goodwill allocated to Telefonica Argentina in interim periods. As the previous year, the recoverable amount was determined by calculating the fair value less costs to sale (see Note 3.f), using discounted cash flow projections. As a result of this analysis, in 2020 an impairment loss was recognized on the goodwill allocated to Telefónica Argentina, amounting to 519 million euros, with a counterparty in "Other expenses" in the consolidated income statement for 2020 (see Note 26). Additionally, in order to match the carrying amount and the recoverable value, impairment losses of intangible assets and property, plant and equipment were recorded, proportional to their carrying amount, amounting to 106 million euros and 269 million euros, respectively (see notes 6 and 8), with a counterparty in "Other expenses" (see Note 26). As a result of these impairment losses, there was a partial reversal of deferred tax liabilities associated with the hyperinflation adjustment in Argentina, amounting to 94 million euros (see Note 25). In 2019, the Group had registered an impairment of goodwill allocated to Telefónica Argentina amounting to 206 million euros. Additionally, at year-end closing the Group has updated the valuation based on the latest approved business plan, and considering various valuation scenarios, with the same conclusions. The WACC rate, in local currency, considers inflation that affects business cash flows in the plan’s horizon, converging in a perpetuity discount rate of around 23% and terminal nominal growth of 10%, aligned with the expected normalization for the inflation rate. Both variables are equally aligned with the consensus of Argentine market analysts using the dollar (hard currency). In terms of operating ratios, a long-term OIBDA margin of 26% is projected over the plan horizon, which is below the long-term projections of analysts for the competition, and a long-term CapEx ratio of around 10%. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2020 | |
Intangible Assets [Abstract] | |
Goodwill | Intangible assets The composition of and movements in net intangible assets in 2020 and 2019 are as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Amortization Disposals Impairments Transfers and others Translation differences and hyperinflation adjustments Balance at 12/31/2020 Service concession arrangements and licenses 8,566 32 (1,001) (33) (106) 151 (1,036) 6,573 Software 2,980 467 (1,305) — (2) 542 (302) 2,380 Customer base 1,666 6 (372) — — (4) (58) 1,238 Trademarks 640 — (51) — — (2) (75) 512 Other intangible assets 52 11 (6) — — (2) (4) 51 Intangible assets in process 2,130 595 — — — (1,940) (51) 734 Total intangible assets 16,034 1,111 (2,735) (33) (108) (1,255) (1,526) 11,488 (1) Total additions of intangible assets in 2020 amounted to 1,266 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 2) . 2019 Millions of euros Balance at 12/31/2018 Additions (1) Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Exclusion Balance at 12/31/2019 Service concession arrangements and licenses 9,995 25 (1,227) (495) 333 23 (88) 8,566 Software 2,940 420 (1,464) (4) 1,113 (6) (19) 2,980 Customer base 2,138 — (478) — 9 (3) — 1,666 Trademarks 690 — (58) — — 8 — 640 Other intangible assets 77 15 (21) — (18) (1) — 52 Intangible assets in process 1,016 2,267 — (1) (1,146) — (6) 2,130 Total intangible assets 16,856 2,727 (3,248) (500) 291 21 (113) 16,034 (1) Total additions of intangible assets in 2019 amounted to 2,733 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2). Additions of spectrum in 2020, including the additions corresponding to "Non-current assets and disposal groups held for sale", amounted to 126 million euros (1,501 million euros in 2019). A reclassification amounting 1,381 million euros between the lines "Intangible assets in process" and "Service concession arrangements and licenses" was made in 2020, corresponding to the majority of the spectrum licenses acquired by Telefonica Germany in 2019. In June 2019, as part of the 5G frequency auction, Telefónica Germany acquired a total of 90 MHz of spectrum in the 2 GHz and 3.6 GHz bands, for a total amount of 1,425 million euros. The German Federal Network Agency assigned the frequency blocks in August 2019: • At 2 GHz, a paired block of 5 MHz with a running time from 2021, and a paired block of 5 MHz with a running time from 2026; and • At 3.6 GHz, seven unpaired blocks of 10 MHz each, which will be made available gradually by 2022 at the latest. In September 2019, Telefónica Germany, like the other auction participants, reached an agreement to pay in annual installments until 2030, beginning in December 2019, instead of one-time payment (see Note 21 and Appendix VI). In addition, in 2019 Telefónica Uruguay acquired spectrum in the 2.6 GHz band for 26 million euros. Disposals of "Service concession arrangements and licenses" in 2019 corresponded to the licenses to use spectrum of Telefónica Mexico (see Note 2). "Impairments" in 2020 corresponding to "Service concession arrangements and licenses" includes an impairment loss of Telefónica Argentina, amounting to 106 million euros (see Note 7). "Transfers and others" in 2020 include the reclassification of the intangible assets of Telefónica United Kingdom and the telecommunications towers division of Telxius amounting to 1,513 and 36 million euros, respectively, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). In addition, this section includes the reclassification of the intangible assets of Telefónica Móviles El Salvador, amounting to 34 million euros from "Non-current assets and disposal groups held for sale" (see Note 30). "Transfers and others" in 2019 included the reclassification of the intangible assets of Telefónica de Costa Rica amounting to 65 million euros to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). Appendix VI contains the details of the main concessions and licenses which the Group operates. “Exclusion of companies” in 2019 mainly corresponded to the sale of Telefonía Celular de Nicaragua and Telefónica Móviles Panamá amounting to 12 and 100 million euros, respectively (see Note 2). The result of the translation to euros of the intangible assets by the companies of the Group in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a) are shown in the column "Translation differences and hyperinflation adjustments". The gross cost, accumulated amortization and impairment losses of intangible assets at December 31, 2020 and 2019 are as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 7,062 (399) (90) 6,573 Software 15,375 (12,986) (9) 2,380 Customer base 5,071 (3,833) — 1,238 Trademarks 1,720 (1,207) (1) 512 Other intangible assets 940 (888) (1) 51 Intangible assets in process 734 — — 734 Total intangible assets 30,902 (19,313) (101) 11,488 Balance at December 31, 2019 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 20,414 (11,848) — 8,566 Software 17,578 (14,597) (1) 2,980 Customer base 6,544 (4,878) — 1,666 Trademarks 1,887 (1,247) — 640 Other intangible assets 956 (901) (3) 52 Intangible assets in process 2,130 — — 2,130 Total intangible assets 49,509 (33,471) (4) 16,034 Movement in goodwill The movement in goodwill assigned to each Group segment was as follows: 2020 Millions of euros Balance at 12/31/2019 Additions Write-offs Transfers Exchange rate impact Balance at 12/31/2020 Telefónica Spain 4,299 — — — — 4,299 Telefónica Brazil 8,814 — — — (2,556) 6,258 Telefónica Germany 4,819 — — (261) — 4,558 Telefónica United Kingdom 4,847 — — (4,750) (97) — Telefónica Hispam 2,530 — (519) — (233) 1,778 Telxius Group 2 — — (2) — — Others 92 5 — 63 (9) 151 Total 25,403 5 (519) (4,950) (2,895) 17,044 2019 (*) Millions of euros Balance at 12/31/2018 Disposals Additions Write-offs Exchange rate impact Balance at 12/31/2019 Telefónica Spain 4,310 (11) — — — 4,299 Telefónica Brazil 8,991 (1) — — (176) 8,814 Telefónica Germany 4,815 — 4 — — 4,819 Telefónica United Kingdom 4,611 — — — 236 4,847 Telefónica Hispam 2,785 (22) — (206) (27) 2,530 Telxius Group 2 — — — — 2 Others 234 (144) 2 — — 92 Total 25,748 (178) 6 (206) 33 25,403 (*) The movement in 2019 has been restated to reflect the new segments of the Group (see Note 4). Following the agreement between Telefónica and Liberty Global plc to combine their businesses in the United Kingdom (see Note 2), the goodwill allocated to Telefonica United Kingdom was reclassified to "Non-current assets and disposals groups held for sale" of the statement of financial position (see Note 30). On June 8, 2020 Telefónica’s subsidiary in Germany, Telefónica Germany GmbH & Co. OHG signed an agreement with Telxius Telecom, S.A. to sell approximately 10,100 sites to Telxius for 1,500 million euros, in two phases: in a first moment approximately 60% of the portfolio and the remaining 40% to be acquired by August of 2021. The first phase was completed on September 1, 2020, when Telxius acquired all the shares of the subsidiary Telefónica Germany Mobilfunk Standortgesellschaft mbH, which owned approximately 6,000 sites. As a result of this transaction, 261 million euros of goodwill originally allocated to Telefónica Germany was allocated to Telxius Group. At December 31, 2020 the goodwill allocated to Telxius Group is classified to "Non-current assets and disposals groups held for sale" of the statement of financial position (see Note 30). In 2020 goodwill decreased by 2,895 million euros due to the depreciation of major currencies against the euro, mainly the Brazilian real (see Note 2). As explained hereafter, in 2020 an impairment loss was recognized on the goodwill allocated to Telefónica Argentina, amounting to 519 million euros, with a balancing entry in “Other expenses” (206 million euros in 2019, see Note 26). Transfers in "Others" in 2020 mainly correspond to the reclassification of the goodwill allocated to Telefónica Móviles El Salvador from "Non-current assets and disposal groups held for sale" (see Note 30). The disposals of goodwill in 2019 in "Others" corresponded to the sale of Telefónica Móviles Panamá and Telefonía Celular de Nicaragua (see Note 2). The rest of disposals in 2019 corresponded to the sale of the data center businesses. Cash-generating units In order to test for impairment, goodwill was allocated to the different cash-generating units (CGUs), which are grouped into the following reportable operating segments: Millions of euros 12/31/2020 12/31/2019 Telefónica Spain 4,299 4,299 Telefónica Brazil 6,258 8,814 Telefónica Germany 4,558 4,819 Telefónica United Kingdom — 4,847 Telefónica Hispam 1,778 2,530 Colombia 170 195 Ecuador 119 130 Chile 826 856 Peru 642 766 Argentina — 557 Uruguay 19 24 Others T. Hispam 2 2 Telxius Group — 2 Others 151 92 TOTAL 17,044 25,403 As explained in Note 2, the COVID-19 crisis has had a significant impact on the results of all cash-generating units, especially as of the second quarter of 2020. This situation represented an impairment indicator, and the Group conducted impairment tests at interim periods, with special emphasis on those cash-generating units whose recoverable value was closest to the carrying amount at 31 December 2019. This analysis considered: i. the plans of the operating businesses in the Telefónica Hispam segment, which were updated during the first quarter of 2020 against the background of the operating spin-off approved on November 27, 2019. These plans reflected an improvement in profitability, through medium- and long-term efficiency measures, which have been addressed in 2020. ii. three calculation models according to the historical relationship between the economic cycle and revenues, both in nominal and real terms, in volume and in growth rates, in order to estimate its impact in the projections in the medium and long term, with three future scenarios (base, pessimistic and optimistic). These scenarios were based on the most recent GDP growth and inflation forecasts available at that date from public and private, local and international public bodies and which can be checked for each of the countries, assigning a probability of occurrence to each scenario based on the distribution of probabilities by prestigious institutions (60%, 30% and 10% respectively). The cash flows projected in the latest 2020 forecasts for the CGUs were the starting point. Another impairment test was conducted at year-end closing. The basis has been the latest business plan of the various cash-generating units to which goodwill is allocated to, approved by Telefónica's Board of Directors. In order to complete the five years of cash flows after the closing year, an additional normalization period was added to the business plans based on the operating ratios until the terminal parameters are reached. The analysts consensus' forecasts are used as a reference. For specific cases, extended business plans are used to cover the five-year period of cash flows, when the normalization period does not properly reflect the expected evolution of the business. Finally, to determine the terminal value of each CGU, a constant free cash flows growth over time is assumed, applying a terminal growth rate. The model used is similar to the dividend discount model developed by Gordon-Shapiro, internationally recognized for business valuations. The process of preparing the CGUs’ business plans considers the current market condition of each CGU, analyzing the macroeconomic, competitive, regulatory and technological environments, as well as the growth opportunities of the CGUs, and the differentiation capabilities compared to the competition based on market projections. A growth target is therefore defined for each CGU, based on the appropriate allocation of operating resources and the capital investments required to achieve the target. In addition, operating efficiency improvements are defined, in line with the strategic transformation initiatives, in order to increase the forecasted operating cash flow. In this process, the Group considers the compliance with business plans in the past. Main assumptions used in calculating value in use CGUs’ value in use are calculated based on the approved business plans. Certain variables are then considered, including the long-term OIBDA margin and the long-term Capital Expenditure ratio (expressed as a percentage of revenue), which are considered the key operating variables to measure business performance and to set financial targets. Finally, the discount rates and the perpetuity growth rates are considered. The main variables considered for the most significant CGUs (Brazil, Spain, United Kingdom and Germany), are described below. Revenues In terms of revenues, the plan assumes a trend towards stability and improvement as of 2022 in local currency. OIBDA margin and long-term Capital Expenditure (CapEx) ratio The values obtained, as described in the previous paragraphs, are compared with the available data of analysts and competitors in the geographic markets where Telefónica Group operates. In Europe, the long-term OIBDA margins two-years estimates of Telefónica Group's analysts are within a range of 39% to 43% for Spain, 31% to 33% for Germany, and 29% to 34% for the UK. Regarding the long-term ratio of CapEx over revenues, the valuations performed for the impairment tests for Spain, Germany and United Kingdom consider the opinions of Telefónica Group’s analysts with regard to investment needs (around 12% for Spain and around 14% for Germany and the United Kingdom). As for the long-term OIBDA margin two-years estimates of Telefónica Group's analysts for the operator in Brazil, it is in a range within 41% to 45%. Regarding investments, the operator will invest a percentage within the range of the investment needs forecasted by analysts (around 16%). Discount rate The discount rate, applied to measure cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and debt according to the finance structure established for each CGU. This rate is calculated using the capital asset pricing model (CAPM), which considers the asset’s systemic risk, and the impact of those risks not already considered on cash flows, such as country risk, business-specific credit risk, currency risk and price risk specific to the financial asset, constantly monitoring the fluctuations of the financial markets. Consequently, the estimations were reviewed, including the impacts of the current economic situation resulting from the COVID-19 crisis. For the United Kingdom, it was considered the uncertainty created by the Brexit, about the new legal framework and the impacts of the restrictions on access to the European single market. For this reason, the cost of capital used in the valuation continues to be stressed, through a higher market premium in line with the implicit one. The most significant components of WACC are summarized as follows: • Risk-Free Rate: defined as the interest rate offered by long-term sovereign bonds. The rate is determined using current market data and equilibrium level estimates (according to standard econometric models, supported by modeling of neutral rates prepared by the central banks themselves) in which the interest rates should be located, thus adjusting the yields, set at low rates due to the high influence of public debt purchased by central banks. • Political Risk Premium: adds the country's insolvency risk due to political and/or financial events; calculation is based on the quoted prices of credit default swaps for each country or, the EMBI+ index published by JP Morgan based on the information available and the liquidity conditions of these swaps. • Equity Risk Premium (ERP): the return in excess that equity assets are expected to yield over the risk-free rate. This is determined using a combination of historical approaches (ex post) backed by external publications and studies based on historical market returns series, and prospective approaches (ex-ante), based on market publications, considering the medium- and long-term profit expectations based on the degree of maturity and development of each country. • Beta Coefficient: a measure of the volatility, or systematic risk, of an equity asset in comparison to the entire market. It is estimated based on a series of historical share prices of comparable companies listed on the stock exchange, to estimate the correlation between the company shares´ returns and the stock market returns, of the country where the company is listed. The main underlying data used in these calculations are obtained from independent and renowned external information sources. The discount rates applied to the cash flow projections in 2020 and 2019 for the main CGUs are as follows: 2020 2019 Discount rate in local currency Before tax After-tax Before tax After-tax Spain 8.4% 6.5% 8.2% 6.2% Brazil 13.6% 11.1% 12.6% 10.0% United Kingdom 7.3% 6.1% 7.8% 6.2% Germany 6.5% 4.8% 7.8% 4.9% Perpetuity growth rate Cash flow projections from the sixth year are calculated using an expected constant growth rate (g), considering the analyst consensus estimates for each business, 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, adjusting any particular case with specific characteristics related to the business evolution. The perpetuity growth rates applied to the cash flow projections in 2020 and 2019 for the main CGUs are as follows: Perpetuity growth rate 2020 2019 Spain 0.8% 1.0% Brazil 4.5% 4.5% United Kingdom 0.8% 0.8% Germany 1.0% 1.1% The perpetuity growth rates for 2020 slightly decreased for Spain And Germany comparing to 2019, being stable for Brazil and the United Kingdom. Europe remains around 1%. In Brazil, the perpetuity growth rate is within the range of the estimations of the analysts, it is consistent with with the Brazilian Central Bank’s medium-term inflation target (within a range between 1.8% and 4.8%) and it is below the forecasted nominal GDP growth rate (which oscillates around 5.5%). Sensitivity to changes in assumptions The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test. Due to the greater uncertainty from the pandemic, the range of variation of the key assumptions was exceptionally increased by 50% with regard to the previous year. Thus, f or the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points (percentage points): Changes in key assumptions, Spain United Kingdom Germany Brazil Financial variables Discount rate +/-0.75 +/-0.75 +/-0.75 +/-1.5 Perpetuity growth rates +/-0.375 +/-0.375 +/-0.375 +/-0.75 Long-term operating variables OIBDA Margin +/-2.625 +/-2.625 +/-2.25 +/-3 Ratio of CapEx/Revenues +/-1.31 +/-1.31 +/-1.13 +/-1.5 The sensitivity analysis revealed a gap between the recoverable value and carrying amount for the main CGUs at December 31, 2020. The impairment test at December 31, 2019 measured the sensitivity to the calculation of the CGU of Telefónica del Perú. The Group has updated the value in use valuation of Telefónica del Peru's, based on the latest approved strategic plan, and considering also various scenarios stressing the operating variables. It was found in this analysis that it was not necessary to record an impairment of the goodwill allocated to Telefónica del Perú. The WACC rate considered is 8.7% and the growth rate in perpetuity is 2.4%. In terms of operating ratios, an OIBDA margin of 30% and a Capex ratio of 11% on average are projected over the plan horizon. As regards the sensitivity of the calculation, the change in each assumption required for the recoverable value to equal Telefónica del Perú's carrying amount is as follows: (i) WACC rate + 2.8 p.p.; (ii) perpetual growth rate -3.8 p.p.; (iii) long-term OIBDA margin: -7.1 p.p.; and (iv) long-term investment ratio: +5.0 p.p. Calculation of the recoverable amount of Telefónica Argentina Argentina is among the most affected countries in the world by COVID-19. The scarce room for an ambitious fiscal package and a long and strict lockdown episode are the main reasons behind this performance. Moreover, recovery is expected to be slower than elsewhere, and pre-pandemic levels of activity are not expected to be reached until at least 2023-24. At the same time, the country remains muddling through an environment of high inflation that, far from being addressed by long-term structural solutions, is being deepened by short-term measures that threaten profitability. In the third quarter of 2020 the Government approved the “Decreto de Necesidad Urgente” (DNU 690/2020), through which (i) the ICTs were declared essential and strategic public services in competition, (ii) the tariffs of the ICTs will be freezed until December 31, 2021, and (iii) the regulator shall regulate the prices in the ICT sector. The Decree asymmetrically conditions its future performance and will have a significant adverse impact on the evolution of the business in the country. Furthermore, the exchange rate duality resulting from the shortage of foreign currency reserves, an unpredictable institutional framework and the need to carry out a broad fiscal adjustment deepen the imbalances that the country will have to address once the pandemic is over. Due to the impairment indicators that were revealed during the year, the Group conducted impairment tests of the goodwill allocated to Telefonica Argentina in interim periods. As the previous year, the recoverable amount was determined by calculating the fair value less costs to sale (see Note 3.f), using discounted cash flow projections. As a result of this analysis, in 2020 an impairment loss was recognized on the goodwill allocated to Telefónica Argentina, amounting to 519 million euros, with a counterparty in "Other expenses" in the consolidated income statement for 2020 (see Note 26). Additionally, in order to match the carrying amount and the recoverable value, impairment losses of intangible assets and property, plant and equipment were recorded, proportional to their carrying amount, amounting to 106 million euros and 269 million euros, respectively (see notes 6 and 8), with a counterparty in "Other expenses" (see Note 26). As a result of these impairment losses, there was a partial reversal of deferred tax liabilities associated with the hyperinflation adjustment in Argentina, amounting to 94 million euros (see Note 25). In 2019, the Group had registered an impairment of goodwill allocated to Telefónica Argentina amounting to 206 million euros. Additionally, at year-end closing the Group has updated the valuation based on the latest approved business plan, and considering various valuation scenarios, with the same conclusions. The WACC rate, in local currency, considers inflation that affects business cash flows in the plan’s horizon, converging in a perpetuity discount rate of around 23% and terminal nominal growth of 10%, aligned with the expected normalization for the inflation rate. Both variables are equally aligned with the consensus of Argentine market analysts using the dollar (hard currency). In terms of operating ratios, a long-term OIBDA margin of 26% is projected over the plan horizon, which is below the long-term projections of analysts for the competition, and a long-term CapEx ratio of around 10%. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Property, plant and equipment [abstract] | |
Property, Plant and Equipment | Property, plant and equipment The composition of and movement in the items constituting net “Property, plant and equipment” in 2020 and 2019 were as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Depreciation Disposals Impairments Transfers and others Translation Balance at 12/31/2020 Land and buildings 3,603 33 (325) (6) 1 (248) (229) 2,829 Plant and machinery 25,006 981 (4,387) (85) (271) (59) (2,509) 18,676 Furniture, tools and other items 1,248 93 (310) (3) (2) (287) (116) 623 PP&E in progress 2,371 2,984 — (5) (3) (3,445) (261) 1,641 Total PP&E 32,228 4,091 (5,022) (99) (275) (4,039) (3,115) 23,769 (1) Total additions of property, plant and equipment in 2020 amounted to 4,595 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 2). 2019 Millions of euros Balance at 12/31/2018 First application of IFRS 16 Additions (1) Depreciation Disposals Transfers and others Translation Exclusion Balance at 12/31/2019 Land and buildings 4,310 (9) 37 (334) (227) 61 (56) (179) 3,603 Plant and machinery 25,346 (107) 1,258 (4,845) (33) 3,638 (58) (193) 25,006 Furniture, tools and other items 1,201 (133) 129 (434) (4) 503 7 (21) 1,248 PP&E in progress 2,438 — 4,568 — (2) (4,612) 18 (39) 2,371 Total PP&E 33,295 (249) 5,992 (5,613) (266) (410) (89) (432) 32,228 (1) Total additions of property, plant and equipment in 2019 amounted to 6,051 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2). Investment by Telefónica Spain in property plant and equipment in 2020 and 2019 amounted to 1,135 and 1,390 million euros respectively. Fast fiber optic and IPTV roll-out, exceeding 25 million premises passed by year-end 2020 in Telefónica Spain, as well the launch of the 5G network. Investment by Telefónica United Kingdom in property plant and equipment in 2020 and 2019 amounted to 737 million euros (253 million euros until the date of reclassification as "Non-current assets and disposal groups held for sale", see note 2) and 779 million euros, respectively. The investment has been focused on 5G deployment and improve 4G navigation experience, achieving 99% population coverage by year-end 2020. Investment by Telefónica Germany in property plant and equipment in 2020 and 2019 amounted to 814 and 807 million euros, respectively. The company has launched 5G network across 15 cities and continues dedicated to extending 4G coverage, achieving a coverage of 99.6% by year-end 2020. Investment by Telefónica Brazil in property plant and equipment in 2020 and 2019 amounted to 1,048 and 1,605 million euros, respectively. The investment was mainly dedicated to extending the coverage and capacity of 4G mobile networks, the improvement of network quality, the extension of FTTH network in the fixed business, as well as network simplification and digitalization of processes and systems. Investment by Telefónica Hispam in property plant and equipment in 2020 and 2019 amounted to 684 and 1,283 million euros, respectively. This investment has been mainly focused on improving the coverage and capacity of 4G networks and ultra-broadband fixed capabilities, as well as processes and systems simplification and digitalization in the region. Investment by Telxius Group in property plant and equipment in 2020 and 2019 amounted to 123 and 101 million euros, respectively (161 and 244 million euros, respectively, including intra-group investment in property plant and equipment). This investment has been mainly focused on the construction of the Pacific cable. In 2020, there has been an increase in the depreciation of property, plant and equipment amounting to 204 million euros, due to the reduction in the useful lives of certain assets of Telefónica México as a result of the transformation of the operating model (see Note 2) announced in November 2019 (23 million euros in December 2019). "Impairments" in 2020 corresponding to "Plant and machinery" includes an impairment loss of Telefónica Argentina, amounting to 269 million euros (see Note 7). "Transfers and others" in 2020 includes the reclassification of property, plant and equipment of Telefónica United Kingdom and the telecommunications towers division of Telxius amounting to 3,290 and 766 million euros respectively, to "Non-current assets and disposal groups held for sale" of the statements of financial position (see Note 30). In addition, this section includes the reclassification of property, plant and equipment of Telefónica Móviles El Salvador, amounting to 124 million euros from "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). "First application of IFRS 16 impact" in 2019 included the transfer of the property, plant and equipment originated in finance lease operations amounting to 249 million euros, reclassified to "Rights of use" at the transition date of IFRS 16 (see Notes 2 and 9). "Transfers and others" in 2019 included the reclassification of property, plant and equipment of Telefónica de Costa Rica amounting to 78 million euros, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). “Exclusion of companies” in 2019 mainly corresponded to the sales of Telefonía Celular de Nicaragua and Telefónica Móviles Panamá, amounting to 103 and 95 million euros, respectively, and the sale of data center businesses (see Note 2) for a total amount of 227 million euros. The result of the translation to euros of property, plant and equipment by the companies of the Group in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a) are shown in the column "Translation differences and hyperinflation adjustments". Telefónica Group companies 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. Additionally, 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 26. The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December 31, 2020 and 2019 were as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 8,735 (5,861) (45) 2,829 Plant and machinery 85,230 (66,289) (265) 18,676 Furniture, tools and other items 4,573 (3,938) (12) 623 PP&E in progress 1,654 — (13) 1,641 Total PP&E 100,192 (76,088) (335) 23,769 Balance at December 31, 2019 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 10,588 (6,975) (10) 3,603 Plant and machinery 101,249 (76,186) (57) 25,006 Furniture, tools and other items 7,041 (5,788) (5) 1,248 PP&E in progress 2,381 — (10) 2,371 Total PP&E 121,259 (88,949) (82) 32,228 |
Rights of Use
Rights of Use | 12 Months Ended |
Dec. 31, 2020 | |
Rights of Use [Abstract] | |
Rights of Use | Rights of use The movement of rights of use in 2020 and 2019 is as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Amortization Disposals Transfers and others Translation differences and hyperinflation Balance at 12/31/2020 Rights of use on land and natural properties 1,514 580 (481) (197) (581) (73) 762 Rights of use on buildings 3,793 957 (760) (121) (435) (615) 2,819 Rights of use on plant and machinery 1,434 342 (299) (51) (153) (35) 1,238 Other rights of use 198 37 (62) (5) — (5) 163 Total of rights of use 6,939 1,916 (1,602) (374) (1,169) (728) 4,982 (1) Total additions of rights of use in 2020 amounted to 2,014 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period. Additions of rights of use are detailed in Note 4. 2019 Millions of euros Balance at 12/31/2018 First application IFRS 16 (Note 2) Additions (1) Amorti-zation Disposals Exclusion Transfers and others Translation differences and hyperinflation Balance at 12/31/2019 Rights of use on land and natural properties — 1,622 334 (385) (61) (6) (3) 13 1,514 Rights of use on buildings — 4,361 697 (904) (136) (109) (123) 7 3,793 Rights of use on plant and machinery — 1,676 206 (373) (70) (6) (7) 8 1,434 Other rights of use — 211 47 (59) (2) — (1) 2 198 Total of rights of use — 7,870 1,284 (1,721) (269) (121) (134) 30 6,939 (1) Total additions of rights of use in 2019 amounted to 1,292 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period. Additions of rights of use are detailed in Note 4. "Transfers and others" in 2020 includes the reclassification of rights of use of Telefónica United Kingdom and the divisions of telecommunications towers of Telxius amounting to 645 million euros and 555 million euros, respectively, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). "Transfers and others" in 2019 included the transfer to "Non-current assets and disposal groups held for sale" of the rights of use of Telefónica de Costa Rica amounting to 127 million euros (see Note 30). “Exclusion of companies” in 2019 corresponded to the sales of Telefonía Celular de Nicaragua and Telefónica Móviles Panamá amounting to 74 and 47 million euros, respectively. The result of the translation to euros of rights of use by the companies of the Group in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a) are shown in the column "Translation differences and hyperinflation adjustments". In 2020, there was an increase in amortization of rights of use amounting to 110 million euros, due to the reduction in the useful lives of certain rights of use of Telefónica México as a result of the transformation of the operating model (see Note 2) announced in November 2019 (13 million euros in 2019). The gross cost and accumulated depreciation of the rights of use at December 31, 2020 and 2019 are as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated depreciation Rights of use Rights of use on land and natural properties 1,326 (564) 762 Rights of use on buildings 4,107 (1,288) 2,819 Rights of use on plant and machinery 1,740 (502) 1,238 Other rights of use 309 (146) 163 Total of rights of use 7,482 (2,500) 4,982 Balance at December 31, 2019 Millions of euros Gross cost Accumulated depreciation Rights of use Rights of use on land and natural properties 1,890 (376) 1,514 Rights of use on buildings 4,722 (929) 3,793 Rights of use on plant and machinery 1,822 (388) 1,434 Other rights of use 305 (107) 198 Total of rights of use 8,739 (1,800) 6,939 The detail of expenses related to leases included in Supplies and Other expenses (see Note 3.g) of the consolidated income statement for 2020 and 2019 are as follows: Millions of euros 2020 2019 Short-term leases included in operating results as supplies 47 115 Variable lease payments not included in the measurement of leases liabilities 15 — Total expenses as supplies 62 115 Short-term leases included in external services 60 108 Leases of low-value assets included in external services 7 13 Variable lease payments not included in the measurement of leases liabilities 22 2 Total expenses as external services (Note 26) 89 123 Total lease expenses 151 238 |
Associates and Joint Ventures
Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2020 | |
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 consolidated income statements is as follows: Millions of euros 12/31/2020 12/31/2019 Investments accounted for by the equity method 427 140 Long-term credits to associates and joint ventures 1 — Receivables from associates and joint ventures for current operations (Note 14) 25 37 Payables to associates and joint ventures (Note 22) 11 634 Millions of euros 2020 2019 2018 Share of income (loss) of investments accounted for by the equity method 2 13 4 Revenue from operations with associates and joint ventures 268 265 233 Expenses from operations with associates and joint ventures 39 30 14 Financial revenues with associates and joint ventures — — 1 Financial expenses with associates and joint ventures — 1 — The detail of the movement in investments accounted for by the equity method in 2020 and 2019 was as follows: Investments accounted for by the equity method Millions of euros Balance at 12/31/2018 68 Income (loss) 13 Dividends (13) Transfers and others 72 Balance at 12/31/2019 140 Additions 269 Disposals (2) Translation differences and other comprehensive income (loss) (14) Income (loss) (*) 1 Dividends (12) Transfers and others 45 Balance at 12/31/2020 427 (*) The results, including those of Tesco Mobile Ltd. since its transfer to non-current assets and disposal groups held for sale, amounted to 2 million euros. In September 2019 Telefónica, S.A. reached an agreement with Prosegur Compañía de Seguridad, S.A. (“Prosegur”) for the acquisition of a 50% stake in Prosegur's alarm business in Spain, with the objective of developing said business through the combination of the complementary capabilities of both companies. On February 28, 2020, after obtaining the relevant regulatory approvals, Telefónica de Contenidos, S.A.U. acquired 50% of the shares in Prosegur Alarmas España, S.L. The price was paid with 49,545,262 shares in Telefónica, with a valuation amounting to 266 million euros at the date of the transaction (see notes 2 and 17). "Transfers and others" in 2020 includes the initial registration of the joint venture of Telefónica with Allianz to deploy Fiber-to-the-Home (FTTH) in Germany (see note 29.c) and the reclassification of the joint venture of Telefonica United Kingdom Tesco Mobile Ltd. to "Non-current assets and disposal groups held for sale" (see Note 30). "Transfers and others" line in 2019 mainly included the reclassification of the net book value of Internet para Todos, S.A.C. to Investments accounted for by the equity method (see Appendix I). The detail of investments accounted for by the equity method is as follow: Million of euros 12/31/2020 12/31/2019 Prosegur Alarmas España, S.L. 265 — Internet para Todos S.A.C. 58 72 Others 104 68 Total 427 140 The breakdown of the key financial highlights of Prosegur Alarmas España and Internet para Todos for the latest period available at the time of preparation of these consolidated financial statements and the reconciliation with the carrying amount in the Group are as follows: Million of euros Prosegur Alarmas España, S.L. Internet para Todos S.A.C. Assets 149 117 Liabilities (128) (11) Net assets 21 106 Purchase price allocation Assets 156 — Liabilities (39) — Net assets 117 — % Holding 50 % 54.7 % Group’s share in equity 69 58 Goodwill 196 — Carrying amount in the Telefónica Group 265 58 |
Related Parties
Related Parties | 12 Months Ended |
Dec. 31, 2020 | |
Related Party [Abstract] | |
Related Parties | Related parties Significant shareholders The significant shareholders of the Company are Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), CaixaBank, S.A. and Blackrock, Inc., with stakes in Telefónica, S.A. of 4.96%, 4.70% and 4.68%, respectively at December 31, 2020. During 2020 and 2019, the Group carried out no significant transactions with Blackrock, Inc. other than the corresponding dividends paid. The following is a summary of significant transactions between the Telefónica Group and BBVA and Caixabank companies. All transactions were carried out at market prices: Millions of euros 2020 BBVA Caixabank Finance costs 15 3 Receipt of services 6 15 Purchase of goods — 60 Other expenses 4 — Total costs 25 78 Finance income 20 — Dividends received (1) 7 N/A Services rendered 21 53 Sale of goods 10 52 Other income 4 — Total revenues 62 105 Purchase of assets — 2 Finance arrangements: loans, capital contributions and others (borrower) 318 25 Finance arrangements: loans and capital contributions (lessee) — 2 Guarantees 148 89 Commitments — 104 Finance arrangements: loans and capital contributions (lender) 294 273 Dividends paid 125 126 Factoring operations — 477 (1) At December 31, 2020, Telefónica held a 0.66% stake (0.66% stake at December 31, 2019) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 12). The nominal value of outstanding derivatives held with BBVA and Caixabank in 2020 amounted to 10,537 million euros and 542 million euros, respectively (14,553 million euros held with BBVA and 557 million euros held with Caixabank in 2019). As explained under Derivatives policy in Note 19, 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 201 million euros and -11 million euros, respectively at December 31, 2020 (491 million euros and -2 million euros, respectively, at December 31, 2019). Additionally, at December 31, 2020, collateral guarantees on derivatives from BBVA and Caixabank have been received, amounting to 164 million euros and 10 million euros, respectively (276 million euros and 19 million euros respectively at December 31, 2019). Millions of euros 2019 BBVA Caixabank Finance costs 32 7 Receipt of services 8 8 Purchase of goods — 62 Other expenses 4 — Total costs 44 77 Finance income 27 — Dividends received 11 N/A Services rendered 13 63 Sale of goods 9 49 Other income 1 — Total revenues 61 112 Purchase of goods — 4 Finance arrangements: loans and capital contributions (borrower) 568 116 Finance arrangements: loans and capital contributions (lessee) — 5 Guarantees 169 91 Commitments — 89 Finance arrangements: loans and capital contributions (lender) 608 675 Dividends 121 108 Factoring operations 904 — Until July 30, 2020, BBVA Bancomer, Institución de Banca Múltiple, Grupo Financiero Bancomer (subsidiary of Banco Bilbao Vizcaya Argentaria, S.A.) held a shareholding together with Telefónica Móviles México, S.A. de C.V. (subsidiary of Telefónica, S.A.) in Adquira México, S.A. de C.V. On the said date, July 30, 2020, Telefónica Móviles México, S.A. de C.V. sold to Openpay, S.A. de C.V. (company within BBVA Group) its shareholding in Adquira México, S.A. de C.V. Similarly, on November 20, 2020, Telefónica Digital España, S.L.U. and Compañía Chilena de Inversiones, S.L., an affiliated company of BBVA, entered into a joint venture agreement related to the incorporation of a subsidiary in Colombia with the aim of commercializing loans to consumers and SME in such country. Other related parties The most significant balances and transactions with associates and joint ventures are detailed in Note 10. During 2020 and 2019, the Directors and senior executives performed no 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 29.g 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 for these types of insurance and a premium attributable to 2020 of 2,654,581 euros ( 1,969,090 euros in 2019). This scheme provides coverage for Telefónica, S.A. and its subsidiaries in certain cases. Certain Telefónica Group subsidiaries performed transactions in 2020 with Global Dominion Access Group, entity related to Director Mr. José Riberas Mera, related to the Group´s ordinary course of business, mainly in Telefónica de España amounting to 11 million euros (27 million euros in 2019). On September 25, 2020, Telefónica Digital España, S.L.U. and ASTI Mobile Robotics, S.A., entity related to Director Ms. Verónica Pascual Boé, signed a Framework Agreement, the purpose of which is to establish the commercial, economic and legal conditions that will apply to those operators of the Telefónica Group that may be interested in acquiring Automated Guided Vehicles (AGVs), as well as other complementary services manufactured and |
Financial Assets and Other Non-
Financial Assets and Other Non-current Assets | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Financial Assets and Other Non-current Assets | Financial assets and other non-current assets The breakdown of financial assets and other non-current assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Non-current financial assets (Note 16) 6,639 6,392 Investments 457 600 Long-term receivables for indirect taxes 187 188 Other long-term credits 252 353 Deposits and guarantees 1,633 1,285 Trade receivables 551 719 Receivables for subleases 15 12 Impairment of trade receivables (122) (154) Derivative financial assets (Note 19) 3,666 3,389 Other non-current assets 631 731 Contractual assets (Note 23) 145 138 Deferred expenses (Note 23) 331 221 Prepayments 155 372 Total 7,270 7,123 Non-current financial assets The movement in investments, long-term receivables for indirect taxes, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2020 and 2019, is as follows: Millions of euros Invest-ments Long-term receivables for indirect taxes Other long-term credits Deposits and guarantees Trade receiva-bles Long-term receivables for subleases Impairment of trade receivables Balance at 12/31/18 573 731 319 1,624 488 — (118) First application of IFRS 16 impact — — — — — 13 — Acquisitions 29 175 141 70 794 5 (19) Disposals (9) (30) (85) (118) (187) — 10 Translation differences — — 3 (14) 9 — (3) Fair value adjustments and financial updates 7 26 (1) 7 8 — — Transfers and other — (714) (24) (284) (393) (6) (24) Balance at 12/31/19 600 188 353 1,285 719 12 (154) Acquisitions 10 285 40 52 666 10 (23) Disposals (13) (8) (24) (159) (233) — 16 Translation differences (3) (55) (22) (219) (66) (1) 24 Fair value adjustments and financial updates (137) 4 (4) 12 2 — — Transfers and other — (227) (91) 662 (537) (6) 15 Balance at 12/31/20 457 187 252 1,633 551 15 (122) Investments “Investments” includes the fair value of investments in companies where Telefónica exercises no significant influence or control and for which there is no specific short-term disposal plan (see Note 3.i). It should be noted, the Telefónica Group’s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounted to 178 million euros (220 million euros at December 31, 2019), representing 0.66% of its share capital at December 31, 2020 (same percentage at December 31, 2019). At December 31, 2020, Telefónica maintained a 0.59% stake in the share capital of China Unicom (Hong Kong) Limited, valued at 85 million euros (same percentage at December 31, 2019, valued at 152 million euros). At December 31, 2020, Telefónica maintained a 9.03% stake in the share capital of Promotora de Informaciones, S.A. (Prisa), valued at 57 million euros (same percentage at December 31, 2019 valued at 94 million euros). In 2019, Telefónica subscribed the capital increase of PRISA, acquiring 11.3 million shares, and selling the rest of the preferred subscription rights. The net amount of the transactions was 15 million euros in 2019. Long-term receivables for indirect taxes During 2018 two final decisions in favor of Telefónica Brazil were passed, which recognized the right to deduct the state tax on goods and services (ICMS) from the calculation basis of the Social Integration Program-PIS (Programa de Integração Social) and the Financing of Social Security-COFINS (Contribuição para Financiamento da Seguridade Social). These decisions cover the period from September 2003 to June 2017, and the period from July 2004 to June 2013. Once the values were determined, Telefónica Brazil presented to the tax authorities a refund request for the payments of PIS/COFINS affected by the judicial decision, together with the corresponding default interest. The total amount, recorded as "Long-term receivables for indirect taxes" in 2018, amounted to 6,240 million Brazilian reals (around 1,454 million euros at an average exchange rate of 2018). In 2018, the impact on the consolidated income statement amounted to 3,386 million Brazilian reals ( 789 million euros at an average exchange rate of 2018), reducing the "Taxes" item under "Other expenses" (Note 26), and 2,854 million Brazilian reals (665 million euros at an average exchange rate of 2018) under Finance Income (see Note 19). At December 31, 2019 the credits pending compensation amounted to 2,046 million Brazilian reals (452 million euros at the closing exchange rate for 2019) and it was recorded under current assets (see Note 25). In 2020, new final decisions in favor of Telefonica Brazil were passed, which covered the periods from November 2001 to March 2016 and from July 2002 to August 2003. The Company recognized the corresponding credits amounting to 932 million Brazilian reals (160 million euros at an average exchange rate of 2020). The impact on the consolidated income statement amounted to 436 million Brazilian reals (75 million euros), reducing the “Taxes” item under “Other expenses” (see Note 26), and 496 million Brazilian reals (85 million euros) under “Finance income” (see Note 19). At December 31, 2020 these credits had been totally compensated. The Company is still engaged in two other lawsuits of the same nature (including the lawsuits of the company Telemig, currently incorporated in Telefónica Brazil). According to the company’s estimates, the contingent assets for these processes, which cover several periods between February 2002 and June 2017, are in a range between 1,768 million Brazilian reals and 1,944 million Brazilian reals (between 277 million euros and 305 million euros at the closing exchange rate of 2020). Other long-term credits Likewise, this line item includes long-term financial assets of Telefónica Germany amounting to 69 million euros and 68 million euros at December 31, 2020 and 2019, respectively, that are mainly intended to cover obligations from the defined benefit plan of Telefónica Germany but do not represent "plan assets" in accordance with IAS 19 (see Note 24). "Transfers and others" in 2020 includes transfer of other long-term credits of Telefónica UK to "Non-current assets and disposal groups held for sale" amounting to 86 million euros (see Note 30). The vast majority of long-term credits, recognized at amortized cost (Note 16), are considered to be low credit risk assets, therefore the impairment analysis was carried out on the basis of expected credit losses in the next twelve months. Deposits and guarantees Telefónica Brazil has non-current judicial deposits amounting to 434 million euros (see Note 24) at December 31, 2020 (750 million euros at December 31, 2019). At December 31, 2020, there were deposits related to the collateral guarantees on derivatives (CSA) signed by Telefónica, S.A. and its counterparties for the credit risk management of derivatives amounting to 1,076 million euros of which 716 million euros cross currency swap (403 million euros at December 31, 2019 that included 80 million euros related to cross currency swap). In addition, 206,919 b onds issued by Telefónica Emisiones, S.A.U. are deposited in a securities account of Telefónica S.A. linked to these collateral contracts as guarantee for a nominal amount of 194 million euros at December 31, 2020 (145,000 bonds for a nominal amount of 129 million euros at December 31, 2019). The vast majority of deposits and guarantees recognized at amortized cost (Note 16), are considered to be low credit risk assets, therefore the impairment analysis was carried out on the basis of expected credit losses in the next 12 months. Trade receivables "Transfers and others" in 2020 includes transfer of trade receivables of Telefónica United Kingdom to "Non-current assets and disposal groups held for sale" amounting t o 178 m illion euros (see Note 30). The breakdown of financial assets of the Telefónica Group at December 31, 2020 is as follows: December 31, 2020 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 750 — 157 424 2,958 359 3,930 — 2,350 6,639 6,639 Investments 33 — — 424 — 350 107 — — 457 457 Credits and other financial assets 9 — — — — 9 — — 430 439 439 Deposits and guarantees — — — — — — — — 1,633 1,633 1,633 Derivative instruments 708 — — — 2,958 — 3,666 — — 3,666 3,666 Trade receivables — — 157 — — — 157 — 394 551 429 Trade receivables for subleases — — — — — — — — 15 15 15 Impairment of trade receivables — — — — — — — — (122) (122) — Current financial assets 524 — 588 — 827 130 1,809 — 12,380 14,319 14,319 Trade receivables (Note 14) 1 — 587 — — — 588 — 8,181 8,769 6,220 Impairment of trade receivables (Note 14) — — — — — — — — (2,549) (2,549) — Other financial assets (Note 15) 523 — 1 — 827 130 1,221 — 1,144 2,495 2,495 Cash and cash equivalents — — — — — — — — 5,604 5,604 5,604 Total 1,274 — 745 424 3,785 489 5,739 — 14,730 20,958 20,958 The breakdown of financial assets of the Telefónica Group at December 31, 2019 was as follows: December 31, 2019 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 757 — 104 565 2,676 511 3,591 — 2,290 6,392 6,392 Investments 35 — — 565 — 496 104 — — 600 600 Credits and other financial assets 9 — — — — 9 — — 532 541 541 Deposits and guarantees — — — — — — — — 1,285 1,285 1,285 Derivative instruments 713 — — — 2,676 6 3,383 — — 3,389 3,389 Trade receivables — — 104 — — — 104 — 615 719 565 Trade receivables for subleases — — — — — — — — 12 12 12 Impairment of trade receivables — — — — — — — — (154) (154) — Current financial assets 960 — 567 — 1,104 317 2,314 — 15,286 17,917 17,917 Trade receivables (Note 14) 480 — 567 — — — 1,047 — 10,503 11,550 8,752 Impairment of trade receivables (Note 14) — — — — — — — — (2,798) (2,798) — Other current financial assets (Note 15) 480 — — — 1,104 317 1,267 — 1,539 3,123 3,123 Cash and cash equivalents — — — — — — — — 6,042 6,042 6,042 Total 1,717 — 671 565 3,780 828 5,905 — 17,576 24,309 24,309 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Inventories [Abstract] | |
Inventories | Inventories The detail of inventories of the Telefónica Group at December 31, 2020 and December 31, 2019 are as follows: Millions of euros 12/31/2020 12/31/2019 Audiovisual rights 1,214 1,189 Mobile terminals and other equipments 507 830 Other inventories 41 33 Inventories impairment provision (44) (53) Inventories 1,718 1,999 "Audiovisual rights" mainly includes the rights to broadcast sport events (see Note 29.c) and rights to broadcast films, television series and documentaries (see Note 3.j). Inventories of Telefónica United Kingdom are registered in "Non-current assets and disposal groups held for sale" of the statement of financial position at December 31, 2020 (see Notes 2 and 30). |
Receivables and Other Current A
Receivables and Other Current Assets | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Receivables and Other Current Assets | Receivables and other current assets The detail of receivables and other current assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Receivables (Note 16) 6,220 8,752 Trade receivables 8,334 10,969 Impairment of trade receivables (2,549) (2,798) Receivables from associates and joint ventures (Note 10) 25 37 Other receivables 410 544 Other current assets 1,303 2,033 Contractual assets (Note 23) 104 351 Capitalized costs (Note 23) 580 625 Prepayments 619 1,057 Total 7,523 10,785 Receivables and other current assets of Telefónica United Kingdom are registered in "Non-current assets and disposal groups held for sale" of the statement of financial position at December 31, 2020 (see Notes 2 and 30). The movement in impairment of trade receivables in 2020 and 2019 is as follows: Millions of euros Impairment provision at December 31, 2018 2,657 Allowances 1,022 Inclusion of companies (30) Amounts applied (848) Translation differences and other (3) Impairment provision at December 31, 2019 2,798 Allowances 819 Transfers (192) Amounts applied (501) Translation differences and other (375) Impairment provision at December 31, 2020 2,549 "Transfers" in 2020 includes the reclassification of impairment of trade receivables of Telefónica United Kingdom amounting to 207 million euros to "Non-current assets and disposal groups held for sale" of the statements of financial position (see Notes 2 and 30). Public-sector net trade receivables at December 31, 2020 and 2019 amounted to 341 million euros and 352 million euros, respectively. The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2020 and 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Trade receivables Impairment Trade receivables Impairment Unbilled receivables 2,098 (15) 2,680 (19) Amount not overdue invoiced 2,538 (117) 3,978 (242) Less than 90 days 903 (126) 1,299 (195) Between 90 and 180 days 350 (146) 504 (201) Between 180 and 360 days 474 (326) 602 (440) More than 360 days 1,971 (1,819) 1,906 (1,701) Total 8,334 (2,549) 10,969 (2,798) The breakdown of other financial assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Short-term credits 1,078 1,298 Short-term deposits and guarantees 82 98 Short-term derivative financial assets (Note 19) 1,210 1,441 Other current financial assets 125 286 Total 2,495 3,123 Short-term credits at December 31, 2020, this amount included bank deposits with a maturity between three and twelve months formalized by Telefónica, S.A. which amounted to 981 million euros (1,149 million euros at December 31, 2019). Short-term deposits and guarantees include current judicial deposits amounting to 28 million euros (see Note 24) constituted by Telefónica Brazil (61 million euros at December 31, 2019). The vast majority of short-term credits and deposits and guarantees recognized at amortized cost and at fair value with changes in "Other comprehensive income" (Note 16) are considered to be low credit risk assets. Other current financial assets include short-term investments in financial instruments to cover commitments undertaken by the Group’s insurance companies, amounted to 114 million euros at December 31, 2020 (113 million euros at December 31, 2019) and were recorded at fair value. During 2019, Argentina acquired United States treasury bills amounting to 174 million euros at December 31, 2019. 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. |
Other Current Financial Assets
Other Current Financial Assets | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other Current Financial Assets | Receivables and other current assets The detail of receivables and other current assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Receivables (Note 16) 6,220 8,752 Trade receivables 8,334 10,969 Impairment of trade receivables (2,549) (2,798) Receivables from associates and joint ventures (Note 10) 25 37 Other receivables 410 544 Other current assets 1,303 2,033 Contractual assets (Note 23) 104 351 Capitalized costs (Note 23) 580 625 Prepayments 619 1,057 Total 7,523 10,785 Receivables and other current assets of Telefónica United Kingdom are registered in "Non-current assets and disposal groups held for sale" of the statement of financial position at December 31, 2020 (see Notes 2 and 30). The movement in impairment of trade receivables in 2020 and 2019 is as follows: Millions of euros Impairment provision at December 31, 2018 2,657 Allowances 1,022 Inclusion of companies (30) Amounts applied (848) Translation differences and other (3) Impairment provision at December 31, 2019 2,798 Allowances 819 Transfers (192) Amounts applied (501) Translation differences and other (375) Impairment provision at December 31, 2020 2,549 "Transfers" in 2020 includes the reclassification of impairment of trade receivables of Telefónica United Kingdom amounting to 207 million euros to "Non-current assets and disposal groups held for sale" of the statements of financial position (see Notes 2 and 30). Public-sector net trade receivables at December 31, 2020 and 2019 amounted to 341 million euros and 352 million euros, respectively. The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2020 and 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Trade receivables Impairment Trade receivables Impairment Unbilled receivables 2,098 (15) 2,680 (19) Amount not overdue invoiced 2,538 (117) 3,978 (242) Less than 90 days 903 (126) 1,299 (195) Between 90 and 180 days 350 (146) 504 (201) Between 180 and 360 days 474 (326) 602 (440) More than 360 days 1,971 (1,819) 1,906 (1,701) Total 8,334 (2,549) 10,969 (2,798) The breakdown of other financial assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Short-term credits 1,078 1,298 Short-term deposits and guarantees 82 98 Short-term derivative financial assets (Note 19) 1,210 1,441 Other current financial assets 125 286 Total 2,495 3,123 Short-term credits at December 31, 2020, this amount included bank deposits with a maturity between three and twelve months formalized by Telefónica, S.A. which amounted to 981 million euros (1,149 million euros at December 31, 2019). Short-term deposits and guarantees include current judicial deposits amounting to 28 million euros (see Note 24) constituted by Telefónica Brazil (61 million euros at December 31, 2019). The vast majority of short-term credits and deposits and guarantees recognized at amortized cost and at fair value with changes in "Other comprehensive income" (Note 16) are considered to be low credit risk assets. Other current financial assets include short-term investments in financial instruments to cover commitments undertaken by the Group’s insurance companies, amounted to 114 million euros at December 31, 2020 (113 million euros at December 31, 2019) and were recorded at fair value. During 2019, Argentina acquired United States treasury bills amounting to 174 million euros at December 31, 2019. 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. |
Breakdown of Financial Assets
Breakdown of Financial Assets | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Breakdown of Financial Assets | Breakdown of financial assets The breakdown of financial assets of the Telefónica Group at December 31, 2020 is as follows: December 31, 2020 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 750 — 157 424 2,958 359 3,930 — 2,350 6,639 6,639 Investments 33 — — 424 — 350 107 — — 457 457 Credits and other financial assets 9 — — — — 9 — — 430 439 439 Deposits and guarantees — — — — — — — — 1,633 1,633 1,633 Derivative instruments 708 — — — 2,958 — 3,666 — — 3,666 3,666 Trade receivables — — 157 — — — 157 — 394 551 429 Trade receivables for subleases — — — — — — — — 15 15 15 Impairment of trade receivables — — — — — — — — (122) (122) — Current financial assets 524 — 588 — 827 130 1,809 — 12,380 14,319 14,319 Trade receivables (Note 14) 1 — 587 — — — 588 — 8,181 8,769 6,220 Impairment of trade receivables (Note 14) — — — — — — — — (2,549) (2,549) — Other financial assets (Note 15) 523 — 1 — 827 130 1,221 — 1,144 2,495 2,495 Cash and cash equivalents — — — — — — — — 5,604 5,604 5,604 Total 1,274 — 745 424 3,785 489 5,739 — 14,730 20,958 20,958 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 breakdown of financial assets of the Telefónica Group at December 31, 2019 was as follows: December 31, 2019 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 757 — 104 565 2,676 511 3,591 — 2,290 6,392 6,392 Investments 35 — — 565 — 496 104 — — 600 600 Credits and other financial assets 9 — — — — 9 — — 532 541 541 Deposits and guarantees — — — — — — — — 1,285 1,285 1,285 Derivative instruments 713 — — — 2,676 6 3,383 — — 3,389 3,389 Trade receivables — — 104 — — — 104 — 615 719 565 Trade receivables for subleases — — — — — — — — 12 12 12 Impairment of trade receivables — — — — — — — — (154) (154) — Current financial assets 960 — 567 — 1,104 317 2,314 — 15,286 17,917 17,917 Trade receivables (Note 14) 480 — 567 — — — 1,047 — 10,503 11,550 8,752 Impairment of trade receivables (Note 14) — — — — — — — — (2,798) (2,798) — Other current financial assets (Note 15) 480 — — — 1,104 317 1,267 — 1,539 3,123 3,123 Cash and cash equivalents — — — — — — — — 6,042 6,042 6,042 Total 1,717 — 671 565 3,780 828 5,905 — 17,576 24,309 24,309 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, 2020 is as follows: Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Euro (9,466) 3,483 3,140 2,163 3,705 23,361 26,386 19,088 7,089 26,177 Floating rate 6,490 870 2,048 794 565 4,247 15,014 518 14,794 15,312 Spread (0.09 %) (0.04 %) 0.12 % 0.20 % 0.15 % (0.03 %) (0.02 %) — — — Fixed rate (15,956) 2,613 1,092 1,369 3,140 19,114 11,372 18,570 (7,705) 10,865 Interest rate (0.33 %) 1.34 % 2.82 % 1.82 % 1.71 % 1.60 % 4.43 % — — — Rate cap — — — — — — — — — — Other european currencies Instruments in CZK (65) — — — — — (65) — (65) (65) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (65) — — — — — (65) — (65) (65) Interest rate (0.25 %) — — — — — (0.25 %) — — — Rate cap — — — — — — — — — — Instruments in GBP 6,874 143 56 — — 557 7,630 1,590 6,740 8,330 Floating rate (1) 334 — — — — 333 (1) 335 334 Spread — — — — — — — — — — Fixed rate 6,875 (247) — — — 557 7,185 1,480 6,405 7,885 Interest rate (0.18 %) (1.97 %) — — — 5.38 % 0.31 % — — — Rate cap — 56 56 — — — 112 111 — 111 Instruments in CHF — — — — — — — 151 (150) 1 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 151 (150) 1 Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — America Instruments in USD (649) (16) (1) 122 (29) 409 (164) 18,790 (18,911) (121) Floating rate (1,622) 12 — 122 (29) 408 (1,109) 814 (2,324) (1,510) Spread (0.05 %) 3.50 % — 0.67 % (23.41 %) — (0.79 %) — — — Fixed rate 973 (28) (1) — — 1 945 17,976 (16,587) 1,389 Interest rate 2.47 % (34.45 %) (2,670.83 %) — — — 5.37 % — — — Rate cap — — — — — — — — — — Instruments in UYU 5 — — — — — 5 (4) 9 5 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 5 — — — — — 5 (4) 9 5 Interest rate 11.18 % — — — — — 11.18 % — — — Rate cap — — — — — — — — — — Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Instruments in ARS (122) 7 — — — — (115) (114) — (114) Floating rate — (1) — — — — (1) (1) — (1) Spread — — — — — — — — — — Fixed rate (122) 8 — — — — (114) (113) — (113) Interest rate 23.94 % 49.43 % — — — — 22.21 % — — — Rate cap — — — — — — — — — — Instruments in BRL 1,885 229 — — 45 13 2,172 (496) 2,675 2,179 Floating rate (813) 132 — — — 14 (667) (692) 32 (660) Spread — — — — — — — — — — Fixed rate 2,698 97 — — 45 (1) 2,839 196 2,643 2,839 Interest rate 1.48 % 2.59 % — — — 1.86 % 1.49 % — — — Rate cap — — — — — — — — — — Instruments in CLP 269 323 294 34 80 (3) 997 (194) 1,208 1,014 Floating rate — 261 3 — — — 264 (3) 268 265 Spread — (0.85 %) 57.81 % — — — (0.24 %) — — — Fixed rate 269 62 291 34 80 (3) 733 (191) 940 749 Interest rate 4.09 % 0.20 % 2.18 % 1.90 % 3.20 % (0.01 %) 2.82 % — — — Rate cap — — — — — — — — — — Instruments in UFC — — — — — — — 100 (112) (12) Floating rate — — — — — — — 100 (112) (12) Spread — — — — — — — — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in PEN 24 80 59 57 151 273 644 441 208 649 Floating rate — 7 — — — — 7 7 — 7 Spread — — — — — — — — — — Fixed rate 24 73 59 57 151 273 637 434 208 642 Interest rate 13.80 % 4.26 % 6.66 % 5.81 % 7.08 % 7.37 % 6.98 % — — — Rate cap — — — — — — — — — — Instruments in VAC 7 — — — — 71 78 79 — 79 Floating rate 7 — — — — 71 78 79 — 79 Spread 3.50 % — — — — 3.21 % 3.24 % — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in COP 407 46 — 83 661 36 1,233 (25) 1,264 1,239 Floating rate — — — — 447 — 447 250 465 715 Spread — — — — 2.02 % — 2.02 % — — — Fixed rate 407 46 — 83 214 36 786 (275) 799 524 Interest rate 5.08 % 2.67 % — 6.65 % 3.54 % 8.09 % 4.82 % — — — Rate cap — — — — — — — — — — Instruments in VEB (4) 1 — — — — (3) (3) — (3) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (4) 1 — — — — (3) (3) — (3) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Instruments in MXN 65 17 — — — — 82 (72) 153 81 Floating rate 8 1 — — — — 9 9 — 9 Spread (2.73 %) 0.11 % — — — — (2.35 %) — — — Fixed rate 57 16 — — — — 73 (81) 153 72 Interest rate 4.37 % 4.59 % — — — — 4.45 % — — — Rate cap — — — — — — — — — — Asia Instruments in JPY — — — — — — — 116 (121) (5) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 116 (121) (5) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — TOTAL 38,880 39,447 (13) 39,434 Floating rate 14,375 1,080 13,458 14,538 Fixed rate 24,393 38,256 (13,506) 24,750 Rate cap 112 111 — 111 Currency Options and Others (*) — — 35 35 (*) 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, 2020: Interest rate swaps Millions of euros Maturity Non trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value EUR (388) Fixed to fix — — — — — — — 1 Receiving leg (100) (75) — — — — (175) (126) Average Interest Rate — — — — — — — — Paying leg 100 75 — — — — 175 127 Average Interest Rate 1.18 % 0.55 % — — — — 0.91 % — Fixed to floating — — — — — — — (622) Receiving leg (6,120) (3,718) (2,974) (2,093) (1,665) (5,065) (21,635) (13,045) Average Interest Rate 1.71 % 1.02 % 1.50 % 0.80 % 0.59 % 0.52 % 1.11 % — Paying leg 6,120 3,718 2,974 2,093 1,665 5,065 21,635 12,423 Average Spread 0.60 % 1.06 % 0.46 % 0.24 % 0.32 % 0.05 % 0.47 % — Floating to fixed — — — — — — — 233 Receiving leg (220) (359) (1,997) (470) (50) (2,122) (5,218) (5,210) Average Spread 2.75 % — — — — 0.11 % 0.16 % — Paying leg 220 359 1,997 470 50 2,122 5,218 5,443 Average Interest Rate 0.14 % 1.30 % 1.02 % 1.26 % 0.65 % 0.37 % 0.76 % — USD (5) Fixed to floating — — — — — — — (24) Receiving leg (277) (522) (277) (139) — — (1,215) (407) Average Interest Rate 1.61 % 1.73 % 1.74 % 3.55 % — — 1.91 % — Paying leg 277 522 277 139 — — 1,215 383 Average Spread 1.68 % 0.92 % 1.77 % — — — 1.18 % — Floating to fixed — — — — — — — 19 Receiving leg — (245) — (139) — — (384) (383) Average Spread — — — — — — — — Paying leg — 245 — 139 — — 384 402 Average Interest Rate — 1.93 % — 2.52 % — — 2.14 % — Interest rate swaps Millions of euros Maturity Trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value EUR 2,221 Fixed to floating — — — — — — — (162) Receiving leg (1,500) (250) (1,500) — (125) (425) (3,800) (3,957) Average Interest Rate 1.29 % 1.20 % 1.54 % — 0.32 % 0.70 % 0.78 % — Paying leg 1,500 250 1,500 — 125 425 3,800 3,795 Average Spread — — — — — — — — Floating to fixed — — — — — — — 2,383 Receiving leg (522) (192) — (700) (1,054) (9,282) (11,750) (11,358) Average Spread — — — — 0.15 % — 0.01 % — Paying leg 522 192 — 700 1,054 9,282 11,750 13,741 Average Interest Rate 2.75 % 0.12 % — 2.30 % 0.54 % 1.09 % 1.17 % — USD (2,939) Fixed to floating — — — — — — — (2,939) Receiving leg (1,475) (596) (715) (72) (368) (9,118) (12,344) (14,567) Average Interest Rate 3.44 % 1.74 % 1.85 % 2.36 % 1.30 % 3.12 % 2.96 % — Paying leg 1,475 596 715 72 368 9,118 12,344 11,628 Average Spread — — — — 1.03 % — 0.03 % — GBP (193) Fixed to floating — — — — — — — (193) Receiving leg — (891) — — — (445) (1,336) (1,523) Average Interest Rate — 3.67 % — — — 3.42 % 3.58 % — Paying leg — 891 — — — 445 1,336 1,330 Average Spread — — — — — — — — Millions of euros Maturity Trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value CLP 5 Fixed to floating — — — — — — — (1) Receiving leg (3) (3) (3) — — — (9) (9) Average Interest Rate 4.90 % 4.90 % 4.90 % — — — 4.90 % — Paying leg 3 3 3 — — — 9 8 Average Spread 1.27 % 1.27 % 1.27 % — — — 1.27 % — Floating to fixed — — — — — — — 6 Receiving leg (114) (17) (133) — — — (264) (264) Average Spread — — — — — — — — Paying leg 114 17 133 — — — 264 270 Average Interest Rate 3.26 % 0.69 % 1.54 % — — — 2.22 % — CHF (4) Fixed to floating — — — — — — — (4) Receiving leg — (139) — — — — (139) (143) Average Interest Rate — 0.75 % — — — — 0.75 % — Paying leg — 139 — — — — 139 139 Average Spread — — — — — — — — COP 9 Floating to fixed — — — — — — — 9 Receiving leg — — — — (214) (36) (250) — Average Spread — — — — — 3.39 % 0.49 % — Paying leg — — — — 214 36 250 9 Average Interest Rate — — — — 3.54 % 8.09 % 4.20 % — Exchange rate options Maturities Millions of euros 2021 2022 2023 2024 2025 Subsequent years Put Currencies (USDBRL, BRLUSD) Notional amount of options bought 1,104 — — — — — Strike 5.11 — — — — — Notional amount of options sold 943 — — — — — Strike 5.03 — — — — — Put Currencies (EURGBP, GBPEUR) Notional amount of options bought 1,667 — — — — — Strike 0.75 — — — — — Notional amount of options sold 1,515 — — — — — Strike 0.83 — — — — — Call Currencies (EURGBP, GBPEUR) Notional amount of options bought 1,384 — — — — — Strike 0.90 — — — — — Notional amount of options sold 1,250 — — — — — Strike 1.00 — — — — — Interest rate options, by maturity, are as follows: Interest rate options Maturities Millions of euros 2021 2022 2023 2024 2025 Subsequent years Collars Notional amount of options bought — 835 — — — — Strike Cap — 4.92 — — — — Strike Floor — 4.15 — — — — Caps Notional amount of options bought — — — — — — Strike — — — — — — Notional amount of options sold — 835 — — — — Strike — 5.53 — — — — Floors Notional amount of options bought — 835 — — — — 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 2021 2022 2023 2024 2025 Subsequent years Total Currency swaps Receive BRL 7 — — — — — 7 Pay BRL (223) — — — — — (223) Receive CLP 40 275 80 — — — 395 Pay CLP (114) (551) (351) — — — (1,016) Receive COP — — — — — — — Pay COP — — — — (447) — (447) Receive EUR 909 — — — — — 909 Pay EUR (3,144) (875) (668) (80) (46) (10,101) (14,914) Receive GBP — 557 — — — 445 1,002 Pay GBP — — — — — — — Receive JPY — — — — — 119 119 Pay JPY — — — — — — — Receive MXN 25 25 25 25 25 117 242 Pay MXN (25) (25) (25) (25) (25) (117) (242) Receive PEN — — — — — — — Pay PEN — — — — 1 — 1 Receive UFC — — 200 — — — 200 Pay UFC — — (100) — — — (100) Receive USD 3,253 1,003 885 72 450 8,710 14,373 Pay USD (638) (408) — — (1) — (1,047) Receive UDI 37 37 37 37 37 170 355 Pay UDI (37) (37) (37) (37) (37) (170) (355) Receive CHF — 139 — — — — 139 Pay CHF — — — — — — — TOTAL 90 140 46 (8) (43) (827) (602) (*) The largest volume of cash flows collected in this table falls into the following currency pairs. The average exchange rates to which the settlements have been closed are: EUR/GBP (0.81), EUR/USD (1.15), USD/COP (3,729.46) and EUR/CHF (1.20). Millions of euros 2021 2022 2023 2024 2025 Subsequent years Total Forwards Receive BRL 149 — — — — — 149 Pay BRL (2,610) — — — — — (2,610) Receive CLP 1 — — — — — 1 Pay CLP (554) (26) — — — — (580) Receive COP 412 — — — — — 412 Pay COP (993) (15) — — — — (1,008) Receive CZK 65 — — — — — 65 Pay CZK — — — — — — — Receive EUR 14,223 — — — — — 14,223 Pay EUR (1,229) — — — — — (1,229) Receive GBP 528 — — — — — 528 Pay GBP (8,521) — — — — — (8,521) Receive MXN — — — — — — — Pay MXN (151) (3) — — — — (154) Receive PEN 14 — — — — — 14 Pay PEN (223) — — — — — (223) Receive USD 2,563 41 1 — — — 2,605 Pay USD (3,799) — — — — — (3,799) Receive UYU — — — — — — — Pay UYU (9) — — — — — (9) TOTAL (134) (3) 1 — — — (136) (*) The largest volume of cash flows collected in this table falls into the following currency pairs. The average exchange rates to which the settlements have been closed are: EUR/GBP (0.91), EUR/USD (1.20), USD/COP (3,739.23) and EUR/BRL (6.44). |
Equity
Equity | 12 Months Ended |
Dec. 31, 2020 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Equity | Equity a) Share capital and share premium 2020 At December 31, 2020, Telefónica, S.A.´s share capital amounted to 5,526,431,062 euros and is divided into 5,526,431,062 common shares, of a single series and with a par value of 1 euro each, fully paid in. All the shares of the Company have the same characteristics and carry the same rights and obligations. On July 8, 2020, the deed was registered for a paid-up capital increase in the amount of 136,305,986 euros, in which 136,305,986 ordinary shares with a par value of 1 euro each were issued against reserves as part of the scrip dividend. Following the share capital increase, the share capital was set at 5,328,437,672 euros. On December 30, 2020, the capital increased in the amount of 197,993,390 euros, in which 197,993,390 ordinary shares with a par value of 1 euro each were issued against reserves as part of the scrip dividend. Following the share capital increase, the share capital was set at 5,526,431,062 euros. On January 5, 2021 the deed was filed in Madrid Companies' Register. The shares of Telefónica, S.A. are represented by book entries that are listed on the Spanish Electronic Market (within the selective Ibex 35 index) and on the four Spanish Stock Exchanges (Madrid, Barcelona, Valencia and Bilbao), as well as on the New York and Lima Stock Exchanges (on these latter two Exchanges through American Depositary Shares (ADSs), with each ADS representing one share of the Company). 2019 At December 31, 2019 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. On May 16, 2019, Telefónica's shares ceased to be listed on the London Stock Exchange, and on July 12, 2019, Telefónica's shares ceased to be listed on the Argentine Stock Exchange. Authorizations by Shareholders’ Meeting As regards the authorizations conferred in respect of the share capital, the shareholders acting at the Ordinary General Shareholders’ Meeting held on June 12, 2020 resolved to delegate to the Board of Directors, as broadly as required by Law, pursuant to the provisions of Section 297.1.b) of the Companies Act, the power to increase the share capital on one or more occasions and at any time, within a period of five year from the date of adoption of such resolution, by the maximum nominal amount of 2,596,065,843 euros, equal to one-half of the share capital of the Company on the date of adoption of the resolution at the General Shareholders’ Meeting, issuing and floating the respective new shares for such purpose with or without a premium, the consideration for which will consist of monetary contributions, with express provision for incomplete subscription of the shares to be issued. The Board of Directors was also authorized to exclude pre-emptive rights in whole or in part, as provided in section 506 of the Companies Act. However, the power to exclude pre-emptive rights is limited to 20% of the share capital on the date on which the resolution is adopted. In accordance with the above-mentioned authorization, as of the end of fiscal year 2020, the Board would be authorized to increase the share capital by the maximum nominal amount of 2,596,065,843 euros. Furthermore, the shareholders acting at the Ordinary General Shareholders’ Meeting of Telefónica, S.A. held on June 12, 2020 delegated to the Board of Directors, in accordance with the general rules governing the issuance of debentures and pursuant to the provisions of applicable law and the Company’s By-Laws, the power to issue debentures, bonds, notes and other fixed-income securities and hybrid instruments, including preferred shares, which may in all cases be simple, exchangeable and/or convertible and/or grant 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 aforementioned securities may be issued on one or more occasions, within a maximum period of five years as from the date of adoption of the resolution. The securities issued may be debentures, bonds, notes and other fixed-income securities, or debt instruments of a similar nature, or hybrid instruments in any of the forms admitted by Law (including, among others, preferred interests) both simple and, in the case of debentures, bonds and hybrid instruments, convertible into shares of the Company and/or exchangeable for shares of the Company, of any of the companies of its Group or of any other company and/or giving the holders thereof an interest in the corporate earnings. Such delegation also includes warrants or other similar instruments that may entitle the holders thereof, directly or indirectly, to subscribe for or acquire newly-issued or outstanding shares, payable by physical delivery or through differences. The aggregate amount of the issuance or issuances of instruments that may be approved in reliance on this delegation may not exceed, at any time, 25,000 million euros or the equivalent thereof in another currency. In the case of notes and for purposes of the above-mentioned limits, the outstanding balance of those issued in reliance on the delegation shall be computed. In the case of warrants, and also for the purpose of such limit, the sum of the premiums and exercise prices of each issuance shall be taken into account. Furthermore, under the aforementioned delegation resolution, the shareholders at the Ordinary General Shareholders’ Meeting of Telefónica, S.A. resolved to authorize the Board of Directors to guarantee, in the name of the Company, the issuance of the aforementioned instruments issued by the Companies belonging to its Group of Companies, within a maximum period of five years as from the date of adoption of the resolution. Furthermore, on June 8, 2018, 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 five-year period 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. b) Dividends Dividends distribution in 2020 Approval was given at the General Shareholders’ Meeting of June 12, 2020 to pay a scrip dividend amounting to approximately 0.40 euros per share in two tranches, consisting of the assignment of free allotment rights with an irrevocable purchase commitment by the Company, and a subsequent capital increase by means of the issue of new shares to fulfill said allotments, following a specific calculation mechanism which might result in variations of the amount. The distribution of the first tranche, amounting approximately 0.20 euros per share, took place in June of 2020 and the second tranche, amounting approximately 0.20 euros per share, took place in December 2020, after the adoption of the corresponding corporate resolutions. At its meeting held on June 12, 2020, the 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. 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 36.99% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telefónica, S.A. Cash payment was made on July 3, 2020 and had an impact in equity amounting to 371 million euros. On the other hand, the shareholders of 63.01% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telefónica, S.A. So the final number of shares issued after June 30, 2020 in the capital increase was 136,305,986 shares with a nominal value of 1 euro each. The Executive Commission of Telefónica, S.A. Board of Directors meeting of December 4, 2020 agreed the implementation of the second capital increase with charge to reserves related to the shareholder compensation by means of a scrip dividend. The shareholders of 33.12% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telefónica, S.A. Cash payment was made on December 30, 2020 and had an impact in equity amounting to 342 million euros. On the other hand, the shareholders of 66.88% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telefónica, S.A. So the final number of ordinary shares with a nominal value of 1 euro issued in the capital increase was 197,993,390 corresponding to 3.72% of the share capital, being 197,993,390 euros the capital increase. Dividends distribution in 2019 Approval was given at the General Shareholders' Meeting of June 7, 2019, to pay a gross dividend of 0.40 euros 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 euros in cash per share was made on June 20, 2019 amounting to 1,023 million euros and the second payment of a gross amount of 0.20 euros in cash per share was made on December 19, 2019 amounting to 1,023 million euros. Dividends distribution in 2018 Approval was given at the General Shareholders' Meeting of June 8, 2018 to pay a gross dividend of 0.40 euros 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 euros in cash per share was made on June 15, 2018 amounting to 1,025 million euros and the second payment of a gross amount of 0.20 euros in cash per share was made on December 20, 2018 amounting to 1,026 million euros. Proposed distribution of results of the parent company Telefónica, S.A. generated 1,685 million euros of losses in 2020. The Company’s Board of Directors will submit the following proposed distribution of 2020 profit for approval at the Shareholders’ Meeting: Millions of euros Unrestricted reserves (1,685) Total (1,685) c) Other equity instruments Undated deeply subordinated securities Unless specified otherwise, undated deeply subordinated securities were issued by Telefónica Europe, B.V. The characteristic of undated deeply subordinated securities, the detail of the tender offer and the amounts repurchased in the operations and the amount amortized in advance, are the following (million euros): Issue date Annual Variable Exercisable by issuer 12/31/2019 Tender Offer Amount repurchased Redemption 12/31/2020 02/05/2020 2.502 % from 05/05/27 rate SWAP + spread incremental 2027 — — — — 500 09/24/2019 2.875 % from 09/24/27 rate SWAP + spread incremental 2027 500 — — — 500 03/14/2019 4.375 % from 03/14/25 rate SWAP + spread incremental 2025 1,300 — — — 1,300 03/22/2018 3 % from 12/04/23 rate SWAP + spread incremental 2023 1,250 — — — 1,250 3.875 % from 09/22/26 rate SWAP + spread incremental 2026 1,000 — — — 1,000 12/07/2017 2.625 % from 06/07/23 rate SWAP + spread incremental 2023 1,000 — — — 1,000 09/15/2016 3.75 % from 03/15/22 rate SWAP + spread incremental 2022 1,000 — — — 1,000 03/30/2015(*) 8.50 % from 03/30/20 rate SWAP + spread incremental 2020 452 — — (452) — 03/31/2014 5 % from 03/31/20 rate SWAP + spread incremental 2020 244 (244) — 5.875 % from 03/31/24 rate SWAP + spread incremental 2024 1,000 — — — 1,000 11/26/2013(**) 6.75 % from 11/26/20 rate SWAP + spread incremental 2020 205 205 (153) (52) — 09/18/2013 7.625 % from 09/18/21 rate SWAP + spread incremental 2021 292 292 (232) (60) — 8,243 7,550 (*) Issued by Colombia Telecomunicaciones, S.A. ESP (500 million U.S. dollars). (**) Security Issued in pounds sterling for a live nominal amount of 172 million pounds sterling. In all issuances of undated deeply subordinated securities (hybrids instruments), the issuer has an option to defer the payment of coupons and holders of such 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. In February 2020, Telefónica Europe, B.V. announced several transactions on its hybrid capital: (a) a new issue amounting to 500 million euros, guaranteed by Telefónica, S.A. The net proceeds of the new issue were allocated towards eligible green investments, mainly energy efficiency in the network transformation from copper to fiber optic in Spain and also self-generation of renewable energy. The settlement took place on February 5, 2020; (b) a tender offer on two hybrid instruments, one denominated in pounds sterling and one in euros, with first call dates in November 2020 and September 2021, respectively. Telefónica Europe, B.V. accepted the purchase in cash of any and all of the tendered securities in an aggregate principal amount of 128 million pounds sterling and 232 million euros, respectively. The tender offer settled on February 6, 2020; (c) following the settlement of the offer and subsequent cancellation of the repurchased securities, announced on February 11, 2020 the exercise of the early redemption option with respect to both instruments, according to their respective terms and conditions, for the remaining outstanding securities (112 million euros equivalent); and (d) on February 13, 2020 announced the exercise of the redemption option with respect to the 244 million euros outstanding securities issued in March 2014. On March 30, 2020, Colombia Telecomunicaciones, S.A. ESP exercised of the redemption option with respect to the 500 million U.S. dollars outstanding securities issued in March 2015. In 2020, the payment of the coupons related to hybrids instruments, in an aggregate amount, net of tax effects, of 335 million euros (256 million and 392 million euros in 2019 and 2018, respectively), was recorded as “Retained earnings” in the consolidated statements of changes in equity. In 2020 and 2019, the coupons related to the undated deeply subordinated securities was impacted by the premium of the tender offer in each of these periods amounting to 27 million euros and 28 million euros, respectively. 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, 2019, this reserve was fully constituted and amounted to 1,038 million euros. As of December 31, 2020 the legal reserve amounts to 1,038 million euros representing 18.79% of the share capital at the date). e) Retained earnings These reserves include undistributed profits of companies constituting the consolidated Group minus 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. These reserves also include revaluation reserves and the reserve for canceled 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 Spanish Royal Decree-Law 7/1996 of June 7, and may be used, free of tax, to offset any losses incurred in the future and to increase capital. It may also 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 was recorded for accounting purposes or when the revalued assets were transferred or recognized. In this respect, 5 million euros were reclassified to “Retained earnings” in 2020 (5 million euros in 2019) corresponding to revaluation reserves subsequently considered to be unrestricted. At December 31, 2020, this reserve amounted to 62 million euros (67 million euros at December 31, 2019). Reserve for canceled 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 should record a reserve for canceled share capital for an amount equal to the par value of the canceled shares, which can only be used upon satisfaction of the same requirements as those applicable to the reduction of share capital. In 2020 and 2019, no amount was recorded in this account. The cumulative amount is 731 million euros. 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 2020 2019 2018 Brazilian real (15,365) (10,910) (10,603) Pound sterling (3,344) (2,868) (3,266) Venezuelan bolivar (3,754) (3,728) (3,516) Argentine peso (2,178) (1,936) (1,890) Other currencies (1,339) (810) (882) Total Group (25,980) (20,252) (20,157) The translation differences of 2019 and 2018 were changed, with a counterparty in retained earnings, to reflect the accounting policy change indicated in Note 2. g) Adjustment on initial application of IFRS 16, IFRS 15 and IFRS 9 The initial application of IFRS 16 Leases (see Note 2) effective as of January 1, 2019, had a net impact on total equity in 2019 amounting to 16 million euros, 11 million euros attributable to equity holders and 5 million euros attributable to minority interests. The initial application of IFRS 9 Financial instruments and IFRS 15 Revenue from contracts with customers, effective as of January 1, 2018, had a net impact on total equity amounting to -165 million euros and 743 million euros, respectively in 2018, with the following detail: Millions of euros IFRS 9 IFRS 15 Total Gross impact on equity (221) 1,006 785 Tax effect 56 (263) (207) Impact on equity (165) 743 578 Attributable to equity holders (142) 654 512 Attributable to non-controlling interest (23) 89 66 The amount reclassified to other comprehensive income from retained earnings, related to impairment losses of previous years, was included in the adjustment on initial application. h) Treasury share instruments Telefónica, S.A. held the following treasury shares at December 31, 2020, 2019 and 2018: Euros per share Number of shares Acquisition price Trading price Market value(*) % Treasury shares at 12/31/20 98,231,380 4.84 3.25 319 1.77748 % Treasury shares at 12/31/19 77,562,635 9.88 6.23 483 1.49385 % Treasury shares at 12/31/18 65,496,120 10.48 7.34 481 1.26145 % (*) Millions of euros. The following transactions involving treasury shares were carried out in 2020, 2019 and 2018: Number of shares Treasury shares at 12/31/17 65,687,859 Acquisitions — Employee share option plan (191,739) Treasury shares at 12/31/18 65,496,120 Acquisitions 14,033,446 Employee share option plan (1,966,931) Treasury shares at 12/31/19 77,562,635 Acquisitions 68,640,303 Scrip dividend 6,252,817 Employee share option plan (3,118,898) Other movements (51,105,477) Treasury shares at 12/31/20 98,231,380 There were treasury shares purchases in 2020 amounting to 234 million euros (99 million euros in 2019). There were no treasury shares purchases in 2018. On February 28, 2020, Telefónica de Contenidos, S.A.U. acquired 50% of the capital stock of Prosegur Alarmas, S.L. with an in-kind delivery of 49,545,262 Telefónica shares, previously acquired to the Company, equivalent to 266 million euros as of the quotation on the delivery date included in "other movements" (see Note 2). On September 30, 2018, the second cycle of the Telefónica, S.A. long-term incentive plans called "Talent for the Future Share Plan (TFSP)" ended, which did not entail the delivery of any shares (see Note 27). The Company maintains derivative financial instruments subject to net settlement on a notional equivalent of 176 million of Telefónica shares at December 31, 2020 (48 million shares at December 31, 2019), recognized under “Current financial liabilities” in the consolidated statement of financial position in both years. i) 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 balance for the 2020, 2019 and 2018 consolidated statements of financial position are as follows: Millions of euros Balance at 12/31/19 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 12/31/20 Telefônica Brasil, S.A. 4,442 (2) — (272) 217 (1,296) 17 3,106 Telefónica Deutschland Holding, A.G. 2,544 — — (156) (30) — (12) 2,346 Colombia Telecomunicaciones, S.A., ESP 526 — — — 11 (62) (67) 408 Telefónica Centroamericana Inversiones, S.L. 106 — — (39) (8) (5) 1 55 Telxius Telecom, S.A. 681 323 — (44) 187 (69) 11 1,089 Other 33 — (3) (5) (2) (3) 1 21 Total 8,332 321 (3) (516) 375 (1,435) (49) 7,025 Millions of euros Balance at 12/31/18 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 12/31/19 Telefônica Brasil, S.A. 4,604 (3) — (374) 307 (85) (7) 4,442 Telefónica Deutschland Holding, A.G. 2,873 — — (247) (75) — (7) 2,544 Colombia Telecomunicaciones, S.A., ESP 523 (1) — — 11 4 (11) 526 Telefónica Centroamericana Inversiones, S.L. 316 — (414) — 196 7 1 106 Telxius Telecom, S.A. 677 — — (87) 86 7 (2) 681 Other 40 — — (2) (3) — (2) 33 Total 9,033 (4) (414) (710) 522 (67) (28) 8,332 Millions of euros Balance at 12/31/17 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 12/31/18 Telefônica Brasil, S.A. 5,018 — — (406) 556 (550) (14) 4,604 Telefónica Deutschland Holding, A.G. 3,114 — — (238) (88) — 85 2,873 Colombia Telecomunicaciones, S.A., ESP 523 — — — 41 (19) (22) 523 Telefónica Centroamericana Inversiones, S.L. 307 — — (28) 30 7 — 316 Telxius Telecom, S.A. 694 139 — (231) 80 5 (10) 677 Other 42 — 1 (3) — (1) 1 40 Total 9,698 139 1 (906) 619 (558) 40 9,033 In 2020, "Sales of non-controlling interests and inclusion of companies" reflects the capital increase of Telxius amounting to 645 million euros, of which 323 million euros correspond to non-controlling interest. The profit for the year attributed to Telxius Group in 2020 includes the effect of the recognition of deferred tax assets for temporary differences of Telxius Towers Germany amounting to 184 million euros (see Note 25). In 2019, "Acquisitions of non-controlling interests and exclusion of companies" reflects the effect of the sale of Telefónica Móviles Guatemala, Telefonía Celular de Nicaragua and Telefónica Móviles Panamá, amounting to 114, 112 and 188 million euros, respectively (see Note 2). Telefónica Centroamericana Inversiones, S.L.'s "Profit/(loss) for the year" has been affected by the capital gain attributable to minorities related to such sales. In 2018, “Sales of non-controlling interests and inclusion of companies” reflected the effect of the sale of 16.65% of the total share capital of Pontel to a subsidiary of the Pontegadea Group amounting to 378.8 million euros. This participation is equivalent to an indirect participation of 9.99% in the share capital of Telxius (see Note 5). Note 4 contains the revenues, OIBDA, Operating income, capital expenditure and the main items of the statement of financial position for the main segments of the Telefónica Group with non-controlling interests, namely Telefónica Brazil, Telefónica Germany and Telxius Group. The detail of these figures for Colombia Telecomunicaciones is as follows: Millions of euros Colombia Telecomunicaciones 2020 2019 2018 Revenues 1,249 1,410 1,468 OIBDA 438 558 556 Depreciation and amortization (325) (386) (385) Operating income 113 172 171 Capital Expenditure 156 309 192 Fixed Assets 1,530 1,904 1,950 Total allocated assets 2,864 3,296 3,073 Total allocated liabilities 2,049 1,825 1,615 The statements of cash flows of these companies are as follows: Millions of euros Telefónica Brazil 2020 2019 2018 Net cash flow provided by operating activities 3,517 4,231 3,599 Net cash flow used in investing activities (1,238) (1,900) (2,012) Net cash flow used in financing activities (1,817) (2,230) (1,660) 462 101 (73) Millions of euros Telefónica Germany 2020 2019 2018 Net cash flow provided by operating activities 2,386 2,249 1,898 Net cash flow used in investing activities (459) (1,194) (1,137) Net cash flow used in financing activities (1,342) (997) (569) 585 58 192 Millions of euros Colombia Telecomunicaciones 2020 2019 2018 Net cash flow provided by operating activities 276 237 344 Net cash flow provided by (used in) investing activities (189) 15 (167) Net cash flow provided by (used in) financing activities (42) (169) (229) 45 83 (52) Millions of euros Telxius 2020 2019 2018 Net cash flow provided by operating activities 528 463 341 Net cash flow provided by (used in) investing activities (1,141) (199) (175) Net cash flow provided by (used in) financing activities 575 (251) (239) (38) 13 (73) |
Financial Liabilities
Financial Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Financial Liabilities | Financial liabilities The breakdown of financial liabilities at December 31, 2020 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2021 2022 2023 2024 2025 Subsequent years Non-current total Total Debentures and bonds 4,832 3,683 2,301 1,138 3,075 23,720 33,917 38,749 Promissory notes & commercial paper 1,551 — 140 263 319 — 722 2,273 Total Issues 6,383 3,683 2,441 1,401 3,394 23,720 34,639 41,022 Loans and other payables 1,045 216 755 436 967 1,116 3,490 4,535 Derivative instruments (Note 19) 695 344 136 155 74 3,459 4,168 4,863 Total 8,123 4,243 3,332 1,992 4,435 28,295 42,297 50,420 The estimate of future payments for interest on these financial liabilities at December 31, 2020 is as follows: 1,245 million euros in 2021, 1,134 million euros in 2022, 1,017 million euros in 2023, 926 million euros in 2024, 874 million euros in 2025 and 8,365 million euros in years after 2025. For floating rate financing, the Group mainly estimates future interest using the forward curve of the various currencies at December 31, 2020. Derivative instruments in the table above include the fair value of derivatives classified as financial liabilities, i.e. when they have a negative mark-to-market, yet excluding the fair value of derivatives classified as current financial assets (1,210 million euros, see Note 15) and non-current financial assets (3,666 million euros, see Note 12). In 2019 and 2020, 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 flows used in financing activities (see Note 28). At December 31, 2020 , the corresponding amount pending payment, recognized in “Loans and other payables” line, was 59 million euros (220 million euros at December 31, 2019). The deferred payments made in relation to this item during the year amounted to 235 million euros (380 million euros in 2019). The composition of these financial liabilities by category at December 31, 2020 and 2019 is as follows: December 31, 2020 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 — — — — — — 41,022 41,022 46,624 Loans and other payables — — — — — — 4,535 4,535 4,595 Derivative instruments 1,208 — 3,655 4 4,859 — — 4,863 4,863 Total financial liabilities 1,208 — 3,655 4 4,859 — 45,557 50,420 56,082 December 31, 2019 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 — — — — — — 44,994 44,994 49,474 Loans and other payables — — — — — — 4,488 4,488 4,511 Derivative instruments 961 — 1,921 59 2,823 — — 2,882 2,882 Total financial liabilities 961 — 1,921 59 2,823 — 49,482 52,364 56,867 The calculation of the fair values of the Telefónica Group’s debt instruments required an estimate of the credit spread curve for each currency and corresponding subsidiary using the prices of the Group’s bonds and credit derivatives. At December 31, 2020, some of the financing arranged by Telefónica Group companies in Latin America (Brazil, Peru and El Salvador), which amounted to approximately 1% 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 Telefónica, S.A. level. Some of the financial liabilities of Telefónica Group includes adjustments in the amortized cost at December 31, 2020 and 2019 as a result of fair value interest rate and exchange rate hedges. Issues, promissory notes, commercial paper, loans and other payables The movement in issues, promissory notes, commercial paper, loans and other payables in 2020 and 2019 arising from financial activities is as follows: Cash used in financing activities Millions of euros Balance at 12/31/2019 Cash received Cash paid Translation differences and exchange gains and losses Financial updates Other movements Balance at 12/31/2020 Issues 42,636 4,011 (6,728) (1,501) 344 (13) 38,749 Promissory notes and commercial paper 2,358 276 (343) (16) — (2) 2,273 Loans and other payables 4,488 3,121 (2,605) (290) 23 (202) 4,535 Cash used in financing activities Millions of euros Balance at 12/31/2018 First application of IFRS 16 Cash received Cash paid Translation differences and exchange gains and losses Financial updates Other movements Balance at 12/31/2019 Issues 41,176 — 4,186 (3,653) 427 494 6 42,636 Promissory notes and commercial paper 2,454 — 412 (512) 1 1 2 2,358 Loans and other payables 8,555 (151) 1,138 (6,076) 55 25 942 4,488 Debentures and bonds At December 31, 2020, the nominal amount of outstanding debentures and bonds issues was 36,502 million euros (40,668 million euros at December 31, 2019). Appendix III presents the characteristics of all outstanding debentures and bond issues at the year-end 2020, and the significant issues made during the year. Telefónica, S.A. has a full and unconditional guarantee on issues made by Telefónica Emisiones, S.A.U., 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, 2020, Telefónica Europe, B.V. had a commercial paper issuance program 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, 2020 was 1,248 million euros, issued at an average interest rate of -0.28% for 2020 (1,390 million euros issued in 2019 at an average rate of -0.28%). • At December 31, 2020, Telefónica, S.A. had a corporate promissory note program for 2,000 million euros, with an outstanding balance at December 31, 2020 of 269 million euros ( 75 million euros in 2019). Interest-bearing debt The average interest rate on outstanding loans and other payables at December 31, 2020 was 1.29% (1.52% in 2019). This percentage does not include the impact of hedges arranged by the Group. The main financing transactions included under “Interest-bearing debt” line outstanding at December 31, 2020 and 2019 and their nominal amounts are provided in Appendix V. Interest-bearing debt arranged or repaid in 2020 mainly includes the following: Description Limit 12/31/2020 (million euros) Currency Outstanding balance 12/31/2020 (million euros) Arrangement date Maturity date Drawndown 2020 (million euros) Repayment 2020 (million euros) Telefónica, S.A. Bilateral Credit (1) 135 EUR — 05/14/2019 05/14/2024 — — Bilateral loan — EUR 150 11/08/2019 03/12/2030 150 — Bilateral loan — EUR 200 12/04/2019 05/06/2027 200 — Bilateral loan (2) 200 EUR — 12/18/2020 06/18/2024 — — Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 02/25/2020 03/24/2025 175 — Syndicated loan (3) — USD 204 03/18/2020 03/18/2025 261 (61) Telefónica Germany GmbH & Co. OHG EIB Financing (Tranche 2) 150 EUR — 01/14/2020 07/14/2029 — — T. Móviles Chile, S.A. Bilateral loan (4) — USD 114 04/17/2020 09/29/2023 114 — T. UK Limited Syndicated loan (5) — GBP — 05/07/2020 09/29/2020 — — (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 million to USD 250 million. (4) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (5) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six At December 31, 2020, the Telefónica Group presented availabilities of financing from different sources that amounted to approximately 13,354 million euros (13,679 million euros at December 31, 2019), of which 12,466 million euros will mature in more than twelve months. Loans by currency The breakdown of “Loans and other payables” line by currency at December 31, 2020 and 2019, and the equivalent value of foreign-currency loans in euros, is as follows: Outstanding balance (in millions) Local Currency Euros Currency 12/31/2020 12/31/2019 12/31/2020 12/31/2019 Euro 2,557 2,484 2,557 2,484 U.S. dollar 1,707 1,522 1,391 1,355 Brazilian real 376 1,527 59 337 Colombian peso 899,695 166,616 214 45 Pounds sterling 100 100 111 117 Peruvian nuevo sol 14 54 3 14 Other currencies 200 136 Total Group 4,535 4,488 |
Derivative Financial Instrument
Derivative Financial Instruments and Risk Management Policies | 12 Months Ended |
Dec. 31, 2020 | |
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 the 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 changes in the value of equity derivatives. • Liquidity risk : arises due to a mismatch between financing needs (including operating and financial expenses, investment, debt redemptions and dividend commitments) and 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 counterparty 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 as calculated by the Group. The Telefónica Group believes that these parameters are more appropriate to understand 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). 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's 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 estimated prices of the transactions or on estimated cash flows and OIBDA. At December 31, 2020, the net financial debt in Latin American currencies was equivalent to approximately 4,884 million euros (4,077 million euros in 2019). 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, 2020, the Telefónica Group’s net financial debt denominated in dollars to hedge that component was equivalent to 202 million euros of asset position (244 million euros of liability position in 2019). At December 31, 2020, net financial debt in pounds sterling was equivalent to 8,371 million euros (3,938 million euros at December 31, 2019). The objective of maintaining debt in pounds sterling at a level of around 2 times the ratio OIBDA over Net Financial Debt has been modified in 2020, as a result of the hedging operations of the funds that are expected to be received from the transaction with Liberty Global for the creation of a joint venture in the United Kingdom (see Note 2), and the uncertainty due to the development of Brexit in the British economy. 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 statement of financial position 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 2020, net negative foreign exchange results (excluding monetary correction) amounted to 26 million euros (413 million euros in 2019), mainly due to the conversion of the Venezuelan bolivar soberano from 68,448 to 2,094,405 per US dollar (see Note 2), that resulted in exchange losses of 139 million euros (426 million euros in 2019), offset by the positive results of operations in brazilean real and sterling pounds that were used as a hedge of cash flow generation in these currencies. The following table illustrates the sensitivity of foreign currency gains and sensitivity 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 2020 was considered constant during 2021; 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, breakdown of which is considered constant in 2021 and identical to that existing at the end of 2020. In both cases, Latin American currencies are assumed to 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% (55) (711) USD vs EUR 10% (23) (101) Other currencies vs EUR 10% (44) (373) Latin American currencies vs USD 10% 12 (237) All currencies vs EUR (10%) 55 711 USD vs EUR (10%) 23 101 Other currencies vs EUR (10%) 44 373 Latin American currencies vs USD (10%) (12) 237 The Group’s monetary position in Venezuela at December 31, 2020 is a net debt position of 109,774,609 million Venezuelan bolivars equivalent to 43 million euros (7,122,859 million Venezuelan bolivars equivalent to 93 million euros at December 31, 2019). The net monetary position exposure in 2020 has been a debtor position, which led to a higher financial income of 165 million euros due to the effect of the monetary correction for inflation during the year (492 million euros in 2019). Interest rate risk The main objective of the interest rate risk management policy is to bring the Company's financing costs in line with the budget for financial expenses for the current year, as well as 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 carried 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 2020 the Euribor, the Brazilian SELIC, the dollar Libor, the pound sterling Libor and the Mexican UDI (inflation) were the short-term rates that accounted for most of the exposure. In nominal terms, at December 31, 2020, 75.2% of Telefónica’s net financial debt plus commitments was pegged to fixed interest rates for a period greater than one year, compared to 74.6% in 2019. Of the remaining 24.8% (net debt at floating rates or at fixed rates maturing within one year), 1.2 percentage points had interest rates bounded in a period over one year, versus 1.1 percentage points of net debt at floating rates or with fixed rates maturing within one year at December 31, 2019. In addition, early retirement and Individual Suspension Plan liabilities (see Note 24) were discounted to present value over the year, based on the curve for instruments with very high credit quality. The decrease in interest rates during the year has led to an increase in the market value of these liabilities. However, this increase was nearly completely offset by the increase in the market value of the hedges on these positions. Net financial results amounted to 1,558 million euros in 2020, 274 million lower than the previous year, mainly as a result of the reduction of the debt in European currencies, as well as its cost. 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, 2020, 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, 2020, 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 +100bp (100) (858) -100bp 97 858 Share price risk The Telefónica Group is exposed to changes in the value of equity investments, of derivatives associated with such investments, of convertible or exchangeable instruments issued by Telefónica Group, of share-based payments plans, of treasury shares and of equity derivatives over treasury shares. According to the share-based payments plans (see Note 27), the shares to be delivered to employees under such plan may be either Telefónica S.A. treasury shares, acquired by itself or any of its Group companies; or newly issued shares. The possibility of delivering shares to beneficiaries of the plans 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 2018, the General Shareholder’s Meeting approved a Long-Term Incentive Plan allocated to Senior Executive Officers of the Telefónica Group consisting of the delivery of shares of Telefónica, S.A. This plan has a total duration of five years and is divided into three mutually exclusive cycles of three years each. Each of the cycles commenced, respectively, in January 2018, 2019 and 2020 (see Note 27). Additionally, the 2018 Shareholder’s Meeting approved a Global Employee Incentive Share Purchase Plan for shares of Telefónica, S.A. for the Employees of the Telefónica Group, which has been implemented during 2019 and 2020 and, predictably, shares will be delivered to its participants in 2021. 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, 2020 to cover shares deliverable under the outstanding Plans. 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 six 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, a portion 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, 2020, the average maturity of net financial debt (35,228 million euros) was 10.79 years (including undrawn committed credit facilities). At December 31, 2020, financial liabilities (Note 18) and leases debt (Note 20) scheduled to mature in 2021 amounted to 8,123 and 1,255 million euros, respectively. 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 2021, and c) undrawn credit facilities arranged with banks whose original maturity is over one year (an aggregate of 12,466 million euros at December 31, 2020), providing flexibility to the Telefónica Group with regard to accessing capital or credit markets in the next two years. For a further description of the Telefónica Group’s liquidity and capital resources in 2020, see Note 18 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, 2020, the Telefónica Group’s Latin American companies had net financial debt not guaranteed by the Parent company of 1,273 million euros, which represents 3.6% 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, 966 million euros from Latin America companies have been received in 2020, of which 746 million euros was in the form of dividends. 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 the 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. Net CVA (CVA+DVA) or Credit Valuation Adjustment is the method used to measure credit risk for both counterparties and Telefónica 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 Telefónica 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. At the same time, and in order to address the credit risk, Telefónica 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 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, 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. This 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 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, 2020, these guarantees amounted to approximately 5,080 million euros (5,774 million euros at December 31, 2019). 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. In addition, Telefónica also uses as reference 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 flows generation that are considered, when evaluating the financial structure of the Telefónica Group and its different areas. Interest rate benchmark reform and associated risks A fundamental reform of major interest rate benchmarks is being undertaken globally, including the replacement of some interbank offered rates (IBORs) with alternative nearly risk-free rates (referred to as ‘IBOR reform’). The Group has exposures to IBORs on its financial instruments that will be replaced or reformed as part of these market-wide initiatives, thus the Group anticipates that IBOR reform will impact its Risk Management Areas. The Group is exposed to the following interest rate benchmarks within its hedge accounting relationships, which are subject to interest rate reform: Libor USD, Libor GBP and Libor CHF. Regarding to the Euribor, and according to the European Union Benchmarks Regulation, the Group expects that it will continue to exist as a benchmark rate for the foreseeable future. The Group applies the amendments to IFRS 9 to those hedging relationships directly affected by IBOR reform, and therefore it assumes that the benchmark interest rate is not altered as a result of it. The detail of notional amounts of the hedging instruments in hedging relationships which are subject to the reform as of December 31, 2020 is as follows: Interest rate index/Tenor Gross notional in original currency (in millions) USD Libor 3M 39,048 GBP Libor 3M 2,200 CHF Libor 3M 300 USD Libor 1M 150 USD Libor 6M 140 The Corporate Finance department leads a working team to manage the transition in the Group. It closely monitors the market and the outputs from the industry, including announcements by the IBOR regulators on the discontinuation dates of current IBORs, which have recently undergone changes. Another relevant aspect of the reform is the need to incorporate adequate fallbacks in contracts. There are groups in the industry working on fallback language for different instruments and different IBORs. In October 2020, ISDA published an IBOR fallback supplement to amend the 2006 ISDA definitions and an IBOR fallback protocol to facilitate multilateral amendments to include the amended floating-rate options in derivative transactions that were entered into before the date of the supplement. The Group is in the process of analysing whether to adhere to the Protocol or negotiate Bilateral Agreements with each counterparty. The Group will continue to apply the amendments to IFRS 9 until the uncertainty from the interest rate benchmark reforms with respect to the timing and amount of the underlying cash flows that the Group is exposed to, ends. Derivatives policy At December 31, 2020, the nominal value of outstanding derivatives with external counterparties amounted to 109,267 million euros equivalent, a 15% decrease from December 31, 2019 (128,654 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 canceled, 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 below: 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 intra-group 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 to be treated as hedges for accounting purposes. The decision to arrange these hedges 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, and the Calypso system, both extensively used 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, FRA, etc.) for interest rates, official fixings for exchange rates and the interest rates and volatility matrices for interest and exchange 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), o |
Lease Liabilities
Lease Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of leases [Abstract] | |
Lease Liabilities | Lease liabilities The evolution of lease liabilities in 2020 and 2019 were as follows: Millions of euros Lease liabilities Balance at 12/31/2019 7,226 Additions 1,969 Principal and interests payments (1,761) Principal payments (Note 28) (1,787) Interests payments (Note 28) (179) Minus: Payments of companies held for sale 205 Disposals (387) Exclusion of companies — Accrued interests (1) 178 Translation differences and hyperinflation adjustments (766) Transfers and others (1,165) Balance at 12/31/2020 5,294 (1) Total accrued interests in 2020 amounted to 193 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 19). Millions of euros Lease liabilities Balance at 12/31/2018 — First application impacts due to accounting changes IFRS16 (Note 2) 7,705 Balance at 01/01/2019 7,705 Additions 1,474 Principal and interests payments (1,654) Principal payments (Note 28) (1,518) Interests payments (Note 28) (185) Minus: Payments of companies held for sale and sold companies during 2019 49 Disposals (261) Exclusion of companies (121) Accrued interests (1) 199 Translation differences and hyperinflation adjustments 23 Transfers and others (139) Balance at 12/31/2019 7,226 (1) Total accrued interests in 2019 amounted to 213 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 19). "Additions" includes fixed asset sale and leaseback transactions, which amounted to 53 million euros in 2020 (190 million euros in 2019, see Note 2). The gain recorded in 2020 for sale and leaseback transactions amounts to 79 million euros (313 million euros in 2019). "Transfers and others" in 2020 includes the reclassification of lease liabilities of Telefónica UK and the divisions of telecommunications towers of Telxius amounting to 637 million euros and 570 million euros, respectively, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). "Transfers and others" in 2019 included the transfer to "Liabilities associated with non-current assets and disposal groups held for sale" of the lease liabilities of Telefónica de Costa Rica which amounted to 127 million euros (see Note 30). “Exclusion of companies” in 2019 corresponded to the sale of Telefonía Celular de Nicaragua and Telefónica Móviles Panamá amounting to 74 and 47 million euros, respectively. There are commitments for leases not started at December 31, 2020 amounting to 181 million euros (63 million euros at December 31, 2019). The maturity schedule of lease liabilities at December 31, 2020 is as follows: Millions of euros Current Non-Current Maturity 2021 2022 2023 2024 2025 Subsequent years Non-current total Total Lease liabilities 1,330 1,052 935 747 569 1,346 4,649 5,979 |
Payables and Other Non-current
Payables and Other Non-current Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Payables and Other Non-current Liabilities | Payables and other non-current liabilities The composition of “Payables and other non-current liabilities” of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Payables 1,452 1,553 Trade payables 101 86 Payables for spectrum acquisition 1,195 1,362 Other payables 156 105 Other non-current liabilities 1,109 1,375 Contractual liabilities (Note 23) 762 851 Deferred revenue 193 336 Current tax payables 154 188 Total 2,561 2,928 Payables and other non-current liabilities of Telefónica United Kingdom are registered in "Liabilities associated with non-current assets and disposal groups held for sale" of the statement of financial position at December 31, 2020 (see Notes 2 and 30). In June 2019 Telefónica Germany acquired a total of 90 MHz spectrum at a total cost of 1,425 million euros (see Note 6). The Company, like the other auction participants, reached an agreement whereby the auction proceeds will be paid in interest-free, annual installments until 2030, instead of an upfront one-time payment (see Appendix VI). In 2020 payments amounting to 87 million euros were made and in December 2019 the first installment was paid, amounting to 87 million euros (see Note 28). The current value of the debt at December 31, 2020 amounted to 1,196 million euros (1,272 million euros at December 31, 2019), of which 1,089 million euros have a maturity of more than twelve months (1,186 million euros at December 31, 2019). In addition, "Payables for spectrum acquisition" includes the deferred portion of the payment for acquiring the spectrum use license in Mexico in 2010, for an equivalent of 1 million euros (37 million euros at December 31, 2019, see Notes 2 and 22), and the pending payment portion for spectrum acquisition in Spain in 2020, amounting to 85 million euros (90 million euros at December 31, 2019). Payments for financed licenses for the years 2020 and 2019 amounted to 147 and 146 million euros, respectively (see Note 28). |
Payables and Other Current Liab
Payables and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Payables and other current liabilities | Payables and other current liabilities The composition of “Payables and other current liabilities” at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Payables 9,626 13,307 Trade payables 5,913 8,095 Payables to suppliers of property, plant and equipment 2,428 3,019 Payables for spectrum acquisition 178 196 Other payables 881 1,081 Dividends pending payment 215 282 Associates and joint ventures payables (Note 10) 11 634 Other current liabilities 1,286 1,596 Contract liabilities (Note 23) 976 1,283 Deferred revenue 93 120 Advances received 217 193 Total 10,912 14,903 Payables and other current liabilities of Telefónica United Kingdom are registered in "Liabilities associated with non-current assets and disposal groups held for sale" of the statement of financial position at December 31, 2020 (see Notes 2 and 30). At December 31, 2020, “Payables for spectrum acquisition” included the debt maturing within twelve months corresponding to the spectrum acquisition of Telefónica Germany in 2019 (see Note 21), amounting to 107 million euros (86 million euros at December 31, 2019). In addition, this section includes the deferred portion of the current pending payment for acquiring the spectrum in Mexico in 2010, for an equivalent of 34 million euros (64 million euros at December 31, 2019, see Notes 2 and 21). “Deferred revenue” include grants amounting to 13 million euros at December 31, 2020 (15 million euros at December 31, 2019). The composition of current "Other payables" at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Accrued employee benefits 465 603 Other non-financial non-trade payables 416 478 Total 881 1,081 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: 2020 2019 Number of days Weighted average maturity period 53 53 Ratio of payments 55 55 Ratio of outstanding invoices 40 38 Millions of euros Total payments 7,311 7,337 Outstanding invoices 1,164 1,152 The 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 2020 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 practices, Telefónica Group 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 2020 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 rendering of services, or occasional processing issues. |
Breakdown of Contractual Assets
Breakdown of Contractual Assets and Liabilities, and Capitalized Costs | 12 Months Ended |
Dec. 31, 2020 | |
Revenue From Contracts With Customers [Abstract] | |
Breakdown of Contractual Assets and Liabilities, and Capitalized Costs | Breakdown of contractual assets and liabilities, and capitalized costs The movement of contractual assets and capitalized costs in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/19 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/20 Long-term contractual assets (Note 12) 138 212 (6) (196) (3) — 145 Contractual assets 144 213 (6) (202) (3) — 146 Impairment losses (6) (1) — 6 — — (1) Short-term contractual assets (Note 14) 351 272 (392) (103) (24) — 104 Contractual assets 381 275 (400) (116) (27) — 113 Impairment losses (30) (3) 8 13 3 — (9) Total 489 484 (398) (299) (27) — 249 Millions of euros Balance at 12/31/18 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/19 Long-term contractual assets (Note 12) 108 204 (7) (172) 5 — 138 Contractual assets 114 204 (7) (173) 5 1 144 Impairment losses (6) — — 1 — (1) (6) Short-term contractual assets (Note 14) 341 662 (816) 156 9 (1) 351 Contractual assets 364 677 (824) 157 9 (2) 381 Impairment losses (23) (15) 8 (1) — 1 (30) Total 449 866 (823) (16) 14 (1) 489 Once the amounts recognized as contract assets become receivables, which normally occurs when they are invoiced, they are transferred to the "Trade receivables" heading. In this regard, the balance of the contract assets account basically represents amounts not yet due. The movement of the deferred expenses in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/19 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/20 Non-current capitalized costs (Note 12) 221 446 (2) (318) (16) — 331 Of obtaining a contract 191 369 (2) (337) (9) — 212 Of fulfilling a contract 30 77 — 19 (7) — 119 Impairment losses — — — — — — — Current capitalized costs (Note 14) 625 459 (774) 302 (32) — 580 Of obtaining a contract 573 361 (652) 210 (23) — 469 Of fulfilling a contract 52 98 (122) 92 (9) — 111 Impairment losses — — — — — — — Total 846 905 (776) (16) (48) — 911 Millions of euros Balance at 12/31/18 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/19 Non-current capitalized costs (Note 12) 191 413 (3) (381) — 1 221 Of obtaining a contract 178 368 (3) (353) 1 — 191 Of fulfilling a contract 13 45 — (28) (1) 1 30 Impairment losses — — — — — — — Current capitalized costs (Note 14) 566 473 (796) 379 5 (2) 625 Of obtaining a contract 541 428 (752) 351 6 (1) 573 Of fulfilling a contract 25 45 (44) 28 (1) (1) 52 Impairment losses — — — — — — — Total 757 886 (799) (2) 5 (1) 846 The Group has revisited the allocation to profit or loss period of incremental costs of obtaining a contract with indefinite duration, to match it with the pattern of transfer of goods or services under the contract to which those costs relate. Pursuant to this analysis such costs are recognized as an asset and expensed on a systematic basis, considering the renewals estimated on the basis of the customer churn rate, except in situations in which there are costs on contract renewal that are commensurate with the costs paid on the initial contract. The change in accounting estimate for this type of contract has resulted in the capitalization of costs amounting to 95 million euros in 2020, mainly in Spain, Brazil, Chile, Peru and Colombia. These costs are expensed over a three five The movement of contractual liabilities of contracts with customers in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/19 Additions Disposals (previous years) Disposals (current year) Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/20 Long-term contractual liabilities (Note 21) 851 452 (15) — (495) (31) — 762 Short-term contractual liabilities (Note 22) 1,283 5,111 (655) (4,647) (56) (60) — 976 Total 2,134 5,563 (670) (4,647) (551) (91) — 1,738 Millions of euros Balance at 12/31/18 Additions Disposals (previous years) Disposals (current year) Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/19 Long-term contractual liabilities (Note 21) 613 409 (3) (4) (180) 16 — 851 Short-term contractual liabilities (Note 22) 1,335 7,516 (598) (7,149) 165 18 (4) 1,283 Total 1,948 7,925 (601) (7,153) (15) 34 (4) 2,134 "Transfers" in 2020 includes the reclassification of contractual assets of Telefónica UK amounting to 318 million euros, to "Non-current assets and disposal groups held for sale" of the statements of financial position. Furthermore, "Transfers" in 2020 includes the reclassification of contractual liabilities of Telefónica UK amounting to 529 million euros to "Liabilities associated with non-current assets and disposal groups held for sale" of the statements of financial position (see Note 30). The maturity schedule of contractual liabilities at December 31, 2020 is as follows: Millions of euros 2021 2022 2023 Subsequent years Total Contractual liabilities, activation fees 62 10 3 3 78 Contractual liabilities, sales of prepay cards 469 — — — 469 Contractual liabilities, services 338 155 1 14 508 Contractual liabilities, sales of handsets 20 2 — — 22 Contractual liabilities, sales of other equipments 2 — — 5 7 Contractual liabilities, irrevocable rights to use 55 49 46 408 558 Other contractual liabilities 30 46 3 17 96 Maturity of performance obligations 976 262 53 447 1,738 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2020 | |
Employee Benefits [Abstract] | |
Provisions | Provisions The amounts of provisions in 2020 and 2019 are as follows: 12/31/2020 12/31/2019 Millions of euros Current Non-current Total Current Non-current Total Employee benefits 930 4,960 5,890 1,110 5,789 6,899 Termination plans 306 479 785 486 729 1,215 Post-employment defined benefit plans 8 484 492 11 565 576 Other benefits 616 3,997 4,613 613 4,495 5,108 Dismantling of assets 32 645 677 96 847 943 Other provisions 342 1,552 1,894 466 1,850 2,316 Total 1,304 7,157 8,461 1,672 8,486 10,158 a) Employee benefits In 2020 the Group recorded a provision of 71 million euros ( 2,170 million euros in 2019). In 2019, 1,733 million euros corresponded to Teléfonica Spain, 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. 2019 Individual Suspension Plan described in “Other benefits”. The distribution by segment of the restructuring costs, in terms of their impact on operating income, is as follows: Millions of euros 2020 2019 Telefónica Spain (2) 1,733 Telefónica United Kingdom — 31 Telefónica Germany 37 22 Telefónica Hispam 17 235 Other companies 19 149 Total 71 2,170 Termination plans The movement in provisions for termination plans in 2020 and 2019 is as follows: Millions of euros Total Provisions for termination plans at 12/31/18 1,246 Additions 452 Retirements/amount applied (496) Translation differences, hyperinflation adjustments and accretion 11 Other 2 Provisions for termination plans at 12/31/19 1,215 Additions 73 Retirements/amount applied (456) Transfers (14) Translation differences, hyperinflation adjustments and accretion (33) Provisions for termination plans at 12/31/20 785 Telefónica Spain The 2011-2013 labor force reduction plan in Telefónica de España, concluded with 6,830 participating employees and the provisions recorded at December 31, 2020 and 2019 amounted to 312 million euros and 528 million euros, respectively. The amount for this provision classified as current totaled 166 million euros at December 31, 2020. The companies bound by these commitments calculated provisions required at 2020 year-end using the biometric table PERM2020 published in the resolution of December 17, 2020 combined with the invalidity table published in the ministerial order of 1977 (at 2019 year-end using tables PERM/F- 2000C combined with the invalidity table published in the ministerial order of 1977) and a high quality credit market based interest rate. The discount rate used for the termination plans of Telefónica Spain at December 31, 2020 was -0.02% with an average plan length of 1.17 years. 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: 12/31/2020 Millions of euros United Germany Brazil Hispam Others Total Obligation — 350 643 74 19 1,086 Assets — (95) (693) — (13) (801) Net provision before asset ceiling — 255 (50) 74 6 285 Asset ceiling — — 173 — — 173 Total — 255 123 74 6 458 Net provision — 262 149 74 7 492 Net assets — 7 26 — 1 34 12/31/2019 Millions of euros United Germany Brazil Hispam Others Total Obligation 1,858 304 982 78 17 3,239 Assets (1,839) (93) (1,038) — (12) (2,982) Net provision before asset ceiling 19 211 (56) 78 5 257 Asset ceiling — — 262 — — 262 Total 19 211 206 78 5 519 Net provision 19 218 255 78 6 576 Net assets — 7 49 — 1 57 The movement in the present value of obligations in 2020 and 2019 is as follows: Millions of euros United Kingdom Germany Brazil Hispam Other Total Present value of obligation at 12/31/2018 1,548 239 749 74 18 2,628 Translation differences 86 — (21) (1) — 64 Current service cost — 11 4 (2) 1 14 Interest cost 44 5 67 11 — 127 Actuarial losses and gains 226 53 233 4 (1) 515 Benefits paid (46) (4) (50) (4) (1) (105) Plan curtailments — — — 1 — 1 Other movements — — — (5) — (5) Present value of obligation at 12/31/2019 1,858 304 982 78 17 3,239 Translation differences (38) — (280) (12) (1) (331) Current service cost — 10 5 4 1 20 Interest cost — 3 55 4 — 62 Actuarial losses and gains — 37 (81) 4 — (40) Benefits paid — (4) (38) (3) (1) (46) Transfers (1,820) — — — — (1,820) Other movements — — — (1) 3 2 Present value of obligation at 12/31/2020 — 350 643 74 19 1,086 Movements in the fair value of plan assets in 2020 and 2019 are as follows: Millions of euros United Kingdom Germany Brazil Other Total Fair value of plan assets at 12/31/2018 1,570 90 848 12 2,520 Translation differences 86 — (22) — 64 Interest income 46 2 76 — 124 Actuarial losses and gains 157 2 181 — 340 Company contributions 27 — — — 27 Participants contributions — 3 — — 3 Benefits paid (46) (2) (44) — (92) Other movements (1) (2) (1) — (4) Fair value of plan assets at 12/31/2019 1,839 93 1,038 12 2,982 Translation differences (36) — (297) (1) (334) Interest income — 1 57 — 58 Actuarial losses and gains — 1 (57) — (56) Company contributions — 2 — — 2 Benefits paid — (2) (36) — (38) Transfers (1,803) — — 2 (1,801) Other movements — — (12) — (12) Fair value of plan assets at 12/31/2020 — 95 693 13 801 Telefónica United Kingdom Pension Plan Transfers of 2020 includes the reclassification of Post-employment defined benefit plans of Telefónica United Kingdom to " Liabilities associated with non-current assets and disposal groups held for sale " of the statements of financial position (see Note 30). The Telefónica United Kingdom Pension Plan provides pension benefits to the various companies of the Telefónica Group in the United Kingdom coming from the O2 Group. The Plan comprises a defined contribution and defined benefit sections. The defined benefit sections were closed to future accrual starting from February 28, 2013. The companies continued providing retirement benefits through the defined contribution sections of the plan. The number of beneficiaries of these plans at December 31, 2020 and 2019 were 4,397 and 4,422, respectively. At December 31, 2020, the weighted average duration of the plan was 22 years. The following tables present the main data of this plan at December 31, 2020: Millions of euros Obligation 1,979 Assets (2,019) Total (40) Net provision 4 Net assets 44 The movement in the present value of obligations in 2020 is as follows: Millions of euros Present value of obligation at 12/31/2019 1,858 Translation differences (101) Interest cost 36 Actuarial losses and gains 234 Benefits paid (48) Present value of obligation at 12/31/2020 1,979 Movements in the fair value of plan assets in 2020 are as follows : Millions of euros Fair value of plan assets at 12/31/2019 1,839 Translation differences (99) Interest income 36 Company contributions 90 Benefits paid (48) Actuarial losses and gains 203 Other movements (2) Fair value of plan assets at 12/31/2020 2,019 The main actuarial assumptions used in valuing the plan are as follows: 12/31/2020 12/31/2019 Nominal rate of pension payment increase 2.75 % 2.90 % Discount rate 1.35 % 2.05 % Expected inflation 2.80 % 2.95 % Mortality tables 95% S2NMA/S2NFA 95% S2NA, CMI 2019 1% 7 and a initial addition of 0.25% CMI 2018 1% 7 and a initial addition of 0.25% Fair value of Plan assets is as follows: Millions of euros 12/31/2020 12/31/2019 Credit instruments 1,876 1,710 Cash equivalents 143 129 Total 2,019 1,839 So long as other assumptions remained constant, at December 31, 2020, reasonably possible changes to one of the following actuarial assumptions 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) 116 Expected inflation (0.25% increase) 111 Life expectancy (1 year longer) 71 Telefónica Brazil pension plans Telefónica 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, Terra Networks, TGLog and TIS 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 VISAO Visão Prev Telefônica Brasil, Terra Networks, TGLog and TIS In 2019 Sistel approved the distribution of part of the surplus of the PBS-A plan, with reversal of values to sponsors and improvement of benefits to those assisted. The participation corresponding to the Company amounted to 48 million euros, with a balancing entry in Other comprehensive income. The distribution is expected in the form of 36 monthly payments, the first received in December 2019. Even considering this distribution, PBS-A still has assets in excess of actuarial obligations as of December 31, 2020 and 2019. The main actuarial assumptions used in valuing these plans are as follows: 12/31/2020 12/31/2019 Discount rate 6.37% - 7.88% 6.65% - 7.54% Nominal rate of salary increase 4.58% - 6.35% 5.47 % Long-term inflation rate 3.50 % 3.80 % Growth rate for medical costs 6.61 % 6.91 % Mortality tables AT 2000 M/F AT 2000 M/F The discount rate and 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 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 351 338 366 Health plans 292 271 316 Total obligation 643 609 682 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 351 351 351 Health plans 292 341 253 Total obligation 643 692 604 Other employee benefits Telefónica 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 first Collective Bargaining Agreement of Related Companies (CEV), wholly backed by the largest labor unions. This agreement considered elements that included 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 Bargaining Agreement of Related Companies was extended until 2018 by virtue of the provisions thereof. Additionally, in September 2019 Telefónica España signed the second Collective Agreement of Related Companies that includes, among other aspects, an "Individual Suspension Plan" that is completely voluntary for the year 2019, with the same conditions as the previous one. These plans are based on mutual agreement between the company and employees and entail the possibility of voluntarily suspending the employment relationship for an initial three-year period, renewable for consecutive three-year periods until the retirement age. Employees who meet the age and seniority requirements may enter the Individual Suspension Plan (PSI) in the periods opened for these purposes. At the end of each period, the current value of the forecast payment flows to meet the commitments of this program (applying certain hypotheses regarding estimated number of accessions and future reintegration ratio) is recognized. Al 2020 year-end, this figure was calculated using the biometric table PERM2020 published in the resolution of December 17, 2020 combined with the invalidity table published in the ministerial order of 1977 (at 2019 year-end, using tables PERM/F- 2000C combined with the invalidity table published in the ministerial order of 1977) and a high quality credit market based interest rate. The provision at December 31, 2020 amounted to 4,479 million euros (4,961 million euros at December 31, 2019). The discount rate used for these provisions at December 31, 2020 was 0.08% with an average plan length of 4.29 years. Sensitivity of the valuation The table below shows the sensitivity of the value of termination, post-employment and other obligations, including 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 (205) (205) 191 191 A 100 b.p. increase in the discount rate would reduce the value of the liabilities by 191 million euros and have a positive impact on the income statement of 191 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 205 million euros and have a negative impact on the income statement of 205 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 19). b) Provisions for dismantling of assets The movement of provision for dismantling of assets in 2020 and 2019 is as follows: Millions of euros Dismantling of assets at December 31, 2018 909 Additions and accretion 178 Retirements/amount applied (97) Translation differences and other (47) Dismantling of assets at December 31, 2019 943 Additions and accretion 213 Retirements/amount applied (116) Transfers (296) Translation differences and other (67) Dismantling of assets at December 31, 2020 677 Transfers of 2020 includes the reclassification of provisions for dismantling of assets of Telefónica United Kingdom, amounting to 89 million euros, and t he telecommunications towers division of Telxius, amounting to 212 million euros to "Liabilities associated with non-current assets and disposal groups held for sale" of the statements of financial position (see Note 30). The detail by segments of provision for dismantling of assets in 2020 and 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Telefónica Spain 6 6 Telefónica Germany 503 421 Telefónica Brazil 64 141 Telefónica United Kingdom — 89 Telefónica Hispam 99 120 Telxius Group — 164 Other companies 5 2 Total 677 943 c) Other provisions The movement in “Other provisions” in 2020 and 2019 is as follows: Millions of euros Other provisions at December 31, 2018 3,138 Reclassification entry into force IFRIC 23 (856) Additions and accretion 946 Retirements/amount applied (841) Transfers 19 Translation differences and other (90) Other provisions at December 31, 2019 2,316 Additions and accretion 568 Retirements/amount applied (500) Transfers (62) Translation differences and other (428) Other provisions at December 31, 2020 1,894 Transfers of 2020 includes the reclassification of other provisions of Telefónica United Kingdom amounting to 74 million euros to "Liabilities associated with non-current assets and disposal groups held for sale" of the statements of financial position (see Note 30). The Group is exposed to risks of claims and litigation, mainly relating to tax and regulatory proceedings, and labor and civil claims. Given the nature of the risks covered by these provisions, no reliable schedule of potential payments, if any, can be determined. Telefónica Brazil 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 Telefónica Group management based on the opinion of its legal counsel, recognized provisions for proceedings for which an unfavorable outcome is considered likely. The balance of these provisions at December 31, 2020 and December 31, 2019 is shown in the following table: Millions of euros 12/31/2020 12/31/2019 Tax proceedings 282 348 Regulatory proceedings 189 253 Labor claims 78 121 Civil proceedings 137 176 Total 686 898 Additionally, Telefónica Brazil 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 129 million euros at December 31, 2020 (184 million euros at December 31, 2019). The detail of provisions for tax proceedings by nature of risk is as follows: Millions of euros 12/31/2020 12/31/2019 Federal taxes 98 127 State taxes 98 103 Municipal taxes 6 8 FUST 80 110 Total 282 348 The breakdown of changes in provisions for tax proceedings in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/2018 440 Reclassification entry into force IFRIC 23 (16) Movements with a counterparty in the income statement 7 Write-offs due to payment (83) Monetary updating 6 Translation differences (6) Balance at 12/31/2019 348 Movements with a counterparty in the income statement 21 Write-offs due to payment (4) Monetary updating 22 Translation differences (105) Balance at 12/31/2020 282 Group management and legal counsel understand that losses are possible from tax contingencies in federal, state, municipal and other taxes for an aggregated amount of 4,606 million euros as of December 31, 2020 (5,768 million euros as of December 31, 2019). After the application of the interpretation IFRIC 23, the aggregated amount as of December 31, 2020 and 2019 does not include the possible contingencies from income tax proceedings (federal tax), which are described in Note 25. Noteworthy state tax-related contingencies include the "ICMS" tax (see Note 25). Moreover, Telefónica Brazil presently has different open proceedings regarding the Fundo de Universalização de Serviços de Telecomunicações (FUST, refer to Note 29). With regard to regulatory proceedings, Telefónica Brazil is party to administrative proceedings against Agencia Nacional de Telecomunicações (ANATEL) based on an alleged failure to meet sector regulations and judicial proceedings to contest sanctions applied by ANATEL at the administrative level. At December 31, 2020, consolidated provisions totaled 189 million euros (253 million euros at December 31, 2019). In addition, Group management and legal counsel understand that losses are possible from regulatory contingencies amounting to 881 million euros at December 31, 2020 (1,247 million euros at December 31, 2019), including the sanction for breaches of the Fixed Telephony Regulation (see Note 29.a). In addition, Group management and legal counsel understand that losses are possible from civil proceedings, amounting to 529 million euros at December 31, 2020 (772 million euros at December 31, 2019). 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, 2020 and December 31, 2019 are as follows: Millions of euros 12/31/2020 12/31/2019 Tax proceedings 228 443 Labor claims 38 70 Civil proceedings 149 232 Regulatory proceedings 42 58 Garnishments 5 8 Total 462 811 Current (see Note 15) 28 61 Non-current (see Note 12) 434 750 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 25). At December 31, 2018 this provision amounted to 439 million euros. At January 1, 2019, this amount was reclassified to "Taxes payable" of the statement of financial position (see Note 25), due to the application of the Interpretation IFRIC 23. Telefónica, S.A. |
Tax Matters
Tax Matters | 12 Months Ended |
Dec. 31, 2020 | |
Income Taxes [Abstract] | |
Tax Matters | 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 44 companies at December 31, 2020 (42 companies at December 31, 2019). 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 which are resident in Spain and which 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 2020 and 2019 are as follows: Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2019 6,682 2,908 Additions 846 600 Disposals (687) (272) Transfers (230) (257) Translation differences and hyperinflation adjustments (211) (344) Company movements and others 16 (15) Balance at December 31, 2020 6,416 2,620 Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2018 7,631 2,674 Reclassification entry into force IFRIC 23 — 313 Additions 1,070 586 Disposals (1,123) (323) Transfers (882) (250) Translation differences and hyperinflation adjustments (33) (87) Company movements and others 19 (5) Balance at December 31, 2019 6,682 2,908 Main changes registered in 2020 The Group assesses the recoverability of deferred tax assets based 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. Due to the COVID-19 crisis (see Note 2), at December 31, 2020 the hypothesis assumed and the estimation of recoverability of deferred tax assets were revalued, taking into account the latest regulatory changes. As a result, the Group derecognized deferred tax assets for loss carryforwards with a counterparty in Corporate income tax amounting to 101 million euros, corresponding to the tax group in Spain. Telefónica Brazil recognized deferred tax liabilities amounting to 231 million euros, mainly related to the tax amortization of goodwill. Telefónica Germany recognized tax credits for loss carryforwards generated in previous years amounting to 159 million euros. Furthermore, Telefónica Germany recognized deferred tax liabilities amounting to 64 million euros. The additions of deferred tax assets included tax credits recognized for 24 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2020 amounting to 64 million euros. In 2020 the additions of deferred tax assets recognized for 30 million euros were the result of the provisions recognized during the year in relation to the various workforce restructuring plans and other obligations with employees of the companies included in the group in Spain (see Note 24). Likewise, disposals of deferred tax assets in 2020 included the impact of the materialization of these provisions, amounting to 217 million euros. In 2020, additions of tax credits from deductions amounting to 103 million euros and disposals of 145 million euros were recognized for the tax group in Spain. In compliance with the sixteenth transitional provision of 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 204 million euros of deferred tax liabilities in order to recognize a higher tax payable to the Spanish tax authorities. Additions of deferred tax assets amounting to 184 million euros were recognized, with a counterparty in Corporate income tax, corresponding to deductible temporary differences of assets of Telxius Towers Germany. As described below, at December 31, 2020, these deferred tax assets were reclassified as "Non-current assets and disposal groups held for sale". Telxius Telecom, S.A. signed an agreement with American Tower Corporation for the sale of its telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (see Note 2). “Transfers” in 2020 includes the reclassification of deferred tax assets corresponding to the towers divisions of Telxius Group amounting to 250 million euros, to "Non-current assets and disposal groups held for sale" of the statements of financial position. On May 7, 2020, Telefónica reached an agreement with Liberty Global plc to combine into a 50:50 joint venture their operating businesses in the United Kingdom (see Note 2). “Transfers” in 2020 includes the reclassification of deferred tax liabilities corresponding to Telefónica United Kingdom amounting to 65 million euros, to “Liabilities associated with non-current assets and disposal groups held for sale” of the statements of financial position (see Note 30). As a result of the impairment of goodwill and other assets of Telefónica Argentina, there was a partial reversal of deferred tax liabilities associated with the hyperinflation adjustment in Argentina, amounting to 94 million euros (see Note 7). In 2020 the provision registered in relation to tax-amortized goodwill, mainly by the purchase of Vivo (see "Tax deductibility of financial goodwill in Spain" below in this note) amounted to 68 million euros. The movements relating to deferred taxes recognized directly in equity in 2020 amounted to 116 million euros of additions (net position of higher deferred tax assets) and 90 million euros of disposals (net position of higher deferred tax liabilities). Likewise, the amount of recognized deferred tax liabilities associated with investments in subsidiaries amounted to 221 million euros as of December 31, 2020 (157 million euros as of December 31, 2019). The amount of unrecognized deferred tax liabilities associated with investments in subsidiaries amounted to 230 million euros as of December 31, 2020 (285 million euros as of December 31, 2019). Main changes registered in 2019 Telefónica Mexico reversed deferred tax assets with a counterparty in Corporate income tax, amounting to 454 million euros, due to the estimations about the time horizon in which the Group expects to recover the assets. Telefónica Brazil recognized deferred tax assets amounting to 122 million euros, mainly generated in the year and disposals amounting to 127 million euros. In addition, Telefónica Brazil recognized deferred tax liabilities amounting to 304 million euros, mainly related to the tax amortization of goodwill. The additions of deferred tax assets included tax credits recognized for 81 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2019 amounting to 77 million euros. In 2019 the additions of deferred tax assets recognized for 492 million euros were the result of the provisions recognized during the year in relation to the various workforce restructuring plans and other obligations with employees of the companies included in the group in Spain (see Note 24). Likewise, disposals of deferred tax assets in 2019 included the impact of the recognition of these provisions, amounting to 207 million euros. In 2019, additions of tax credits from deductions were recognized in Spain, in the amount of 95 million euros. In compliance with the sixteenth transitional provision of 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 209 million euros of deferred tax liabilities in order to recognize a higher tax payable to the Spanish tax authorities. As explained below, a partial resolution upholding the claims of Telefónica by the Tribunal Económico-Administrativo Central (TEAC) pertaining the overpayments made in 2008-2011 resulted in the collection of 702 million euros, registered in transfers of deferred tax assets. At January 1, 2019, 313 million euros were reclassified to "Deferred tax liabilities" of the statement of financial position, due to the application of the IFRIC 23 (see Note 24), mainly corresponding to the balance at January 1, 2019 of the provision in relation to tax-amortized goodwill by the purchase of Vivo (see "Tax deductibility of financial goodwill in Spain" below in this note). The provision registered in addition at 2019 were 69 million euros. The movements relating to deferred taxes recognized directly in equity in 2019 amounted to 2 million euros of additions (net position of higher deferred tax liabilities) and 12 million euros of disposals (net position of higher deferred tax liabilities). Likewise, the amount of recognized deferred tax liabilities associated with investments in subsidiaries amounted to 157 million euros as of December 31, 2019 (307 million euros as of December 31, 2018). The amount of unrecognized deferred tax liabilities associated with investments in subsidiaries amounted to 285 million euros as of December 31, 2019 (129 million euros as of December 31, 2018). Expected realization of deferred tax assets and liabilities The Group assesses the recoverability of deferred tax assets based 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 in 2020 and 2019 is as follows: Millions of euros 12/31/2020 Total Less than 1 year More than 1 year Deferred tax assets 6,416 944 5,472 Deferred tax liabilities 2,620 (173) 2,793 Millions of euros 12/31/2019 Total Less than 1 year More than 1 year Deferred tax assets 6,682 747 5,935 Deferred tax liabilities 2,908 (17) 2,925 Deferred tax assets less than one year mainly come from the Tax Group in Spain (718 million euros in 2020 and 525 million euros in 2019). 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 12/31/2020 12/31/2019 Tax credits for loss carryforwards 2,741 2,884 Unused tax deductions 1,448 1,459 Deferred tax assets for temporary differences 2,227 2,339 Total deferred tax assets 6,416 6,682 Tax credits for loss carryforwards The movements in Tax credits for loss carryforwards in the Telefónica Group in 2020 and 2019 are as follows: Location of the company (Millions of euros) Balance at 12/31/2019 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2020 Spain 1,420 3 (140) — — 1,283 Germany 695 183 (64) — (1) 813 Latin America 769 21 (14) — (131) 645 Other countries — — — — — — Total tax credits for loss carryforwards 2,884 207 (218) — (132) 2,741 Location of the company (Millions of euros) Balance at 12/31/2018 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2019 Spain 2,272 — (16) — (836) 1,420 Germany 580 192 (77) — — 695 Latin America 976 25 (202) — (30) 769 Other countries — — — — — — Total tax credits for loss carryforwards 3,828 217 (295) — (866) 2,884 The Spanish tax group considers that unused tax loss carryforwards in Spain, taking into account tax litigation in which the group is involved, amount to 6,803 million euros at December 31, 2020: Millions of euros Total Less than 1 year More than 1 year Tax loss carryforwards generated in the tax group 4,602 645 3,957 Tax loss carryforwards generated before consolidation in the tax group 2,201 — 2,201 Total tax credits for loss carryforwards in Spain in the statement of financial position at December 31, 2020 amounted to 1,283 million euros (1,420 million euros at December 31, 2019). Total unrecognized tax credits for loss carryforwards of the Spanish tax group amounted to 422 million euros. These tax credits do not expire. The Group companies in Germany have recognized 813 million euros of tax credits for loss carryforwards at December 31, 2020. Total unrecognized tax credits for loss carryforwards of these companies amount to 6,175 million euros. These tax credits do not expire. Recognized tax credits in the consolidated statement of financial position arising from the Latin American subsidiaries at December 31, 2020 amounted to 645 million euros. Total unrecognized tax credits for tax loss carryforwards in Latin America amounted to 824 million euros. Deductions The Group has recognized 1,448 million euros of tax credits from deductions at December 31, 2020, in Spain, generated primarily from export activity, R+D+i, double taxation and donations to non-profit organizations. In 2020, tax credits from deductions generated in the year were recognized for 103 million euros. In 2019, tax credits from deductions of 95 million euros were reversed in Spain, as a consequence of the review in the expected schedule of realization of deferred tax assets and liabilities. Temporary differences The sources of deferred tax assets and liabilities from temporary differences recognized at December 31, 2020 and 2019 are as follows: Millions of euros 12/31/2020 12/31/2019 Goodwill and intangible assets 208 323 Property, plant and equipment 421 520 Personnel commitments 1,493 1,730 Provisions 693 832 Investments in subsidiaries, associates and other shareholdings 6 6 Inventories and receivables 288 273 Rights of use 29 15 Lease liabilities 909 796 Other concepts 483 615 Total deferred tax assets for temporary differences 4,530 5,110 Deferred tax assets and liabilities offset (2,303) (2,771) Total deferred tax assets for temporary differences registered in the statement of financial position 2,227 2,339 Millions of euros 12/31/2020 12/31/2019 Goodwill and intangible assets 1,678 2,115 Property, plant and equipment 1,028 1,203 Personnel commitments 12 7 Provisions 514 385 Investments in subsidiaries, associates and other shareholdings 268 414 Inventories and receivables 12 197 Rights of use 918 800 Other concepts 493 558 Total deferred tax liabilities for temporary differences 4,923 5,679 Deferred tax assets and liabilities offset (2,303) (2,771) Total deferred tax liabilities for temporary differences registered in the statement of financial position 2,620 2,908 Deferred tax assets and liabilities are offset if a legally enforceable right exists to offset 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 concepts” includes, among others, the difference between the accounting and tax values created by the value of financial derivatives at year end (see Note 19). Tax payables and receivables Current tax payables and receivables at December 31, 2020 and 2019 are as follows: Millions of euros Balance at 12/31/2020 Balance at 12/31/2019 Tax payables Tax withholdings 105 161 Indirect taxes 380 817 Social security 118 137 Current income taxes payable 813 1,073 Other 316 372 Total 1,732 2,560 Millions of euros Balance at 12/31/2020 Balance at 12/31/2019 Tax receivables Indirect taxes 484 941 Current income taxes receivable 334 507 Other 84 113 Total 902 1,561 Tax payables of Telefónica United Kingdom are registered in "Liabilities associated with non-current assets and disposal groups held for sale" of the statement of financial position at December 31, 2020 (see Notes 2 and 30) . Tax receivables for indirect taxes at Decem ber 31, 2020 does not include any balance to be offset by refunded payments by PIS/COFINS payments described in Note 12 (452 million euros at December 31, 2019). 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 2020, 2019 and 2018 is as follows: Millions of euros 2020 2019 2018 Accounting profit before tax 2,583 2,718 5,571 Tax expense at prevailing statutory rate 532 722 1,544 Permanent differences 289 (223) 133 Changes in deferred tax charge due to changes in tax rates 14 8 6 (Capitalization)/reversal of tax deduction and tax relief (103) (44) 371 (Capitalization)/reversal of loss carryforwards (88) 118 (1,067) Increase/(decrease) in tax expense arising from temporary differences (8) 484 569 Other concepts (10) (11) 65 Corporate income tax 626 1,054 1,621 Breakdown of current/deferred tax expense Current tax expense 462 1,108 1,122 Deferred tax expense/(benefit) 164 (54) 499 Total Corporate income tax 626 1,054 1,621 "Permanent differences" in 2020 includes the effect of the non-deductible charge for the impairment losses on goodwill and other assets of Telefónica Argentina (see Note 7). "(Capitalization)/reversal of loss carryforwards" in 2020 includes the recognition of tax credits in Telefónica Germany and Group 3G UMTS amounting to 159 million euros and 24 million euros, respectively, partially compensated by the reversal of the tax group in Spain amounting to 101 million euros. "Increase/(decrease) in tax expense arising from temporary differences" in 2020 mainly includes the recognition of deferred tax assets amounting to 184 million euros corresponding to deductible temporary differences of assets of Telxius Towers Germany, partially compensated by the effect of deductible temporary differences not recognized in Telefónica México, amounting to 152 million euros. The reversed deferred tax assets with a counterparty in Corporate income tax of Telefónica Mexico, referred to in the section “Main changes registered in 2019” of the deferred tax movement, were reflected in the headings “(Capitalization)/reversal of loss carryforwards” amounting to 183 million euros and “(Increase)/decrease in tax expense arising from temporary differences” amounting to 271 million euros. The heading “Other concepts” at 2019, included a lower expense for income tax amounting to 201 million euros related to the indemnity associated with the resolution Tribunal Económico-Administrativo Central (see section “Inspections of the tax group in Spain” later in this Note). Moreover, it included an expense amounting to 154 of Telefónica Peru (see section “Tax litigation in Telefónica del Perú” later in this note). Tax deductibility of financial goodwill in Spain The tax regulations added article 12.5 to the 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 for 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 of the corresponding settlements of corporate income tax from 2004 to the closing of December 31, 2020, was 1,716 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 the tax incentive 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 issued on 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. There are also doubts in the Spanish Courts about the classification of the incentive as a deduction and its maintenance in the case of subsequent transmission. As of the date of this Annual Report, the three decisions continue to be subject to a final ruling. The first two were initially annulled by two judgments of the General Court of the European Union, which were appealed by the EC in the Court of Justice of the European Union and sent again to the General Court in December 2016, which ruled on November 15, 2018, confirming the applicability of the principle of legitimate expectations, but considered the "goodwill amortization" as state aid not compatible with the common market. The third decision remains pending a judgment from the court of first instance. Notwithstanding the above, the "Tax and Customs Control Unit of the Spanish Tax Authority" (Dependencia de Control Tributario y Aduanero de la Agenica Tributaria), in compliance with the obligation set out in the EC Decision (EU) 2015/314, recovered the amounts that had been deducted in connection with the amortization of goodwill for the indirect acquisition of non-resident companies from 2005 to 2015, and in November of the same year, it initiated the recovery procedure for goodwill relating to years 2016 to 2018. The recovery of such amounts is provisional, pending the final rulings on the appeals brought against the three decisions. The amount paid by Telefónica in March 2019, after offsetting outstanding tax credits (tax losses carryforward and deductions) amounted to 1.4 million euros. Notwithstanding the fact that the company understands that the principle of legitimate expectations in relation to this tax incentive applies, in relation to tax-amortized goodwill through the purchase of some companies for which the applicability of the legitimate expectations principle is questioned, mainly VIVO, the Group has decided to continue provisioning the amount of the goodwill amortized for tax purposes, which amounted to 420 million euros as of December 31, 2020 (352 million euros as of December 31, 2019). Inspections of the tax group in Spain In July 2019, new inspection proceedings were initiated for several of the companies belonging to Tax Group 24/90, of which Telefónica, S.A. is the dominant company. The concepts and periods being audited are: Corporate Income Tax for the years 2014 to 2017 and Value Added Tax, Withholdings income Tax for the second half of 2015 and from 2016 to 2018. Though the maximum duration for the tax inspection procedures is 27 months and due to the official publication of the Royal Decree 3/2020 of March 17 as result of COVID-19, the regular procedures were suspended between March 14 and June 1, 2020, implying the extension of the deadline towards December 2021. In relation to the inspection proceeding of Corporate Income Tax for years 2008 to 2011, on January 23, 2019 Telefónica was notified of a resolution issued by the Spanish Central Economic-Administrative Tax Court (Tribunal Económico-Administrativo Central) which partially upheld the claims brought by Telefónica against the assessments relating to the 2008-2011 Corporate Income Tax Audit. On March 15, 2019, Telefónica announced that it had been notified of an Execution Notice issued by the Agencia Estatal de Administración Tributaria in connection with the Spanish Central Economic-Administrative Tax Court resolution (which had partially upheld the claims filed by Telefónica against the assessments pertaining to the 2008-2011 Corporate Income Tax Audit). Said Execution Notice ordered a 702 million euros refund to Telefónica, pertaining to overpayments made in those tax years, which was paid to Telefónica at that date. Telefónica filed an appeal with the Central Economic-Administrative Tax Court against the Execution Notice. Such appeal was resolved favorably to Telefónica's interests on June 13, 2019, resulting in a new refund of 201 million euros related to compensating interest which was recorded as Corporate income tax in the 2019 income statement. Telefónica received this payment in July 2019. In relation to the inspection proceedings of Corporate Tax for the years 2005 to 2007 and 2008 to 2011, which ended in 2012 and 2015, respectively, Telefónica continues to dispute the criteria used for the accounting of Net Operating Losses and deductions. The case is pending before the National Audience. As a result of the ongoing inspection process and the pending tax years to be inspected, it is not considered that there is a need to recognize additional liabilities in the consolidated financial statements. 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 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), a case is still pending 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 17,446 million Brazilian reais (approximately 2,736 million euros at the exchange rate of December 31, 2020, see Note 24), 15,460 million Brazilian reais on December 31, 2019 (approximately 3,416 million euros at the exchange rate on that date). Telefónica Brazil has obtained independent expert reports supporting its position, i.e. that the aforesaid services are not subject to ICMS. Federal taxes In addition, there are possible contingencies in relation to the income tax federal taxes for the total amount of 16,873 million Brazilian reais as of December 31, 2020 (approximately 2,647 million euros at the exchange rate on that date), 9,895 million Brazilian reais as of December 31, 2019 (approximately 2,186 million euros at the exchange rate on that date), mainly related to the tax amortization in Brazil in the years 2011 to 2017 of the goodwill originated in the acquisitions of Vivo and GVT and their subsequent merger with Telefónica Brasil. These proceedings are at the administrative and judicial stage and no provisions have been made since the potential risk associated with them has been classified as "not probable" and Telefónica Brazil has received independent expert reports that support this view. There are other probable contingencies in relation to the income tax federal taxes for the total amount of 96 million Brazilian reais as of December 31, 2020 (approximately 15 million euros at the exchange rate on that date), 87 million Brazilian reais as of December 31, 2019 (approximately 14 million euros at the exchange rate on that date). The Company has recognized a provision for this amount. 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 for 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 before 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. With regard to these tax matters, in July 2019 Telefónica del Perú received notification of two rulings of the Supreme Court on the contentious administrative appeals of the 2000 and 2001 financial years. These rulings do not definitively resolve some of the main issues that both litigations deal with when partial nullity of the previous rulings is declared, and therefore the issues must be returned back to the Superior Court, lower instance, to be judged again. However, to the extent that there have been some adjustments over which the judgments are pronounced (positively for the company in relation to the deductibility of the rental of public spaces and negative in the case of the deductibility of certain financial charges), the company recorded in its financial statements of 2019 an additional provision of 580 million Peruvian nuevo sol (approximately 154 million euros at the exchange rate as of December 31, 2019). In addition, in January 2020 Telefónica del Perú received a notification of the Supreme Court ruling regarding insolvency provisions, annulling, as for the year 1998, the ruling of the court of second instance for 2000-2001 and returning the case to the court of first instance which declared the appeal unfounded. However, Telefónica del Perú has filed a cassation appeal against said judgment. Therefore, all settlements carried out by SUNAT for 2000 and 2001 financial years are still pending of the final ruling in the judicial phase. Regarding these ruling, the Group and its external attorneys consider that there are solid arguments to defend their position, both in relation to the insolvency provisions and in relation to the interest in the administrative phase and to recoverable balances for 1998 and 1999. Given the sentences and rulings handed down in June and August 2015, the Group recognized a provision in the 2015 consolidated financial statements, provision that at December 31, 2020 reached, including interest accrued and the additional provision recognized in 2019, a total amount of 2,407 million Peruvian soles (approximately 542 million euros at the exchange rate of December 31, 2020). See Note 24. On February 23, 2021, Telefónica del Perú has been electronically notified of the Constitutional Court's Ruling in relation to the second of the judicial appeals filed against the aforementioned late payment interest applicable in the administrative process. The Ruling considers that the calculation of late payment interest in the administrative process is inadmissible due to the time exceeded in resolving the tax matters beyond the time framework legally set forth. Although this Ruling is favorable to the Company, at the date of preparation of these consolidated financial statements, the possible clarification requests that may be presented by each of the parties are still pending, as well as it is also pending the scope of its effects as linked to the first of the appeals still pending judgment in the Constitutional Court, so that as of this day it is not possible to quantify the possible effects that this Ruling may have on the provision recorded as of December 31, 2020. 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 the taxes from 2014 onwards are open to inspection. 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 twelve years in Germany. • The last seven years in the United Kingdom. • The last seven years in Argentina. • The last five years in Brazil, Mexico, Colombia, Uruguay and the Netherlands. • The last four years in Peru and Costa Rica. • Since 2016, the statute of limitation in Venezuela is six years. • The last three years in Chile, Ecuador, El Salvador and the United States. |
Revenue and Expenses
Revenue and Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |
Revenues and Expenses | Revenue and expenses Revenues The breakdown of Revenues for the years 2020, 2019 and 2018 is as follows: Millions of euros 2020 2019 2018 Rendering of services 37,394 42,264 43,085 Sales 5,682 6,158 5,608 Total 43,076 48,422 48,693 Sales mainly include the sale of mobile terminals. Other income The breakdown of “Other income” is as follows: Millions of euros 2020 2019 2018 Own work capitalized 873 890 815 Gain on disposal of companies 67 677 21 Gain on disposal of other assets 276 612 241 Government grants 17 22 22 Other operating income 354 641 523 Total 1,587 2,842 1,622 "Gain on disposal of companies" in 2020 mainly includes the impact of the initial registration of the joint venture of Telefónica with Allianz to deploy Fiber-to-the-Home (FTTH) in Germany (see Note 29.c). "Gain on disposal of companies" in 2019 mainly included the gains for the sales of Antares, Telefonía Celular de Nicaragua and Telefónica Móviles Panama (see Note 2). In addition, in 2019 it included the capital gain for the sale of data centers businesses, amounting to 213 million euros (see Note 2). “Gain on disposal of other assets” includes gains from the sale of telecommunications towers of 39 million euros, 176 million euros and 53 million euros in 2020, 2019 and 2018, respectively. Additionally, in 2019 it included a 95 million euros gain corresponding to licenses with deferred payments of Telefónica México that were released (see Note 2). "Other operating income" in 2019 included 103 million euros corresponding to the amount received for the irrevocable sale of the future credit rights that might arise from the favorable resolution of a number of claims and lawsuits of various kinds that Telefónica had filed at the date of the sale agreement. Furthermore, the agreement included an additional amount of 51 million euros collected from the sale of future credit rights that might arise from claims filed within four years following the date of the agreement. Of this amount, 19 million euros were not yet recognized in the income statement at December 31, 2020. The agreement do not provide for direct or indirect repayment, full or partial, of the cash received, irrespective of the future outcome of such claims. The consideration received as a result of this transaction is approximately 10% of the underlying nominal amount of the current claims. "Other operating income" in 2018 included gains from changes in the fair value of equity instruments for 24 million euros. Other expenses The breakdown of “Other expenses” is as follows: Millions of euros 2020 2019 2018 Leases included in "Other expenses" (1) 89 123 1,071 Other external services 9,617 11,370 11,427 Taxes other than income tax 902 995 365 Change in trade provisions 860 974 785 Losses on disposal of fixed assets and changes in provisions for fixed assets 416 187 35 Goodwill impairment (Note 7) 519 206 350 Other operating expenses 468 589 366 Total 12,871 14,444 14,399 (1) Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 2 and 9). "Losses on disposal of fixed assets and changes in provisions for fixed assets" in 2020 includes impairment losses of intangible assets and property, plant and equipment of Telefónica Argentina, for a total amount of 375 million euros (see Note 7). In 2019 it included a 123 million euros loss on disposal of intangible assets for the return of spectrum licenses of Telefónica Mexico (see Note 2). "Other operating expenses" in 2019 included the impact of the transformation of the operating model of Telefónica Mexico in certain pre-existing service contracts, amounting to 167 million euros (see Note 2). The favorable court rulings obtained by Telefónica Brazil in relation to the right to exclude the state tax on goods and services (ICMS) from the tax base for PIS and COFINS contributions, reduced the “Taxes” item by 789 million euros in 2018. In 2020, a new final decision in favor of Telefónica Brazil was passed, with an impact of 75 million euros (see Note 12). Estimated payment schedule The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows: Millions of euros Purchases and other contractual commitments Less than 1 year 3,939 1 to 3 years 4,267 3 to 5 years 1,027 More than 5 years 905 Total 10,138 Commitments for short-term leases and low value leases amounted to 42 million euros as of December 31, 2020. In addition, lease collection commitments amounted to 14 million euros as of December 31, 2020. Headcount The table below presents the breakdown of the Telefónica Group’s average number of employees by segment (see Note 4) in 2020, 2019 and 2018, together with total headcount at December 31 each year. 2020 2019 2018 Average Year-end Average Year-end Average Year-end Telefónica Spain 22,992 22,978 25,338 23,081 26,892 25,474 Telefónica United Kingdom 6,501 6,318 6,940 6,861 6,732 7,188 Telefónica Germany 7,770 7,701 8,034 7,955 8,366 8,203 Telefónica Brazil 33,938 33,828 33,147 33,905 34,068 33,499 Telefónica Hispam 33,872 33,506 35,928 34,474 38,037 37,490 Telxius Group 509 557 470 494 419 438 Other companies 7,600 7,909 8,168 7,834 8,239 8,507 Total 113,182 112,797 118,025 114,604 122,753 120,799 At December 31, 2020, approximately 38.00% of the final headcount are women (37.84% at December 31, 2019). At December 31, 2020, the number of employees with disabilities is 1,119 (1,081 employees at December 31, 2019), of which 215 employees are in Spain (222 employees in 2019). Depreciation and amortization The breakdown of “Depreciation and amortization” on the consolidated income statement is as follows: Millions of euros 2020 2019 2018 Property, plant and equipment (Note 8) 5,022 5,613 5,751 Intangible assets (Note 6) 2,735 3,248 3,298 Rights of use (Note 9) 1,602 1,721 n.a. Total 9,359 10,582 9,049 The non-current assets of Telefónica United Kingdom ceased to be amortized and depreciated for accounting purposes once they were reclassified as "Non-current assets and disposal groups held for sale" (see Notes 2 and 4). 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 (see Note 17) 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 on the conversion of the mentioned convertible bonds into ordinary shares from the date of their issue. 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 2020 2019 2018 Profit attributable to ordinary equity holders of the parent from continuing operations 1,582 1,142 3,331 Adjustment for the coupon corresponding to undated deeply subordinated securities (335) (379) (540) Tax effect 84 97 138 Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations 1,331 860 2,929 Number of shares (thousands) 2020 2019 (*) 2018 (*) Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share 5,471,160 5,453,145 5,461,067 Telefónica, S.A. share option plans 6,590 4,766 663 Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares) 5,477,750 5,457,911 5,461,730 (*) Revised data. 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 resources, 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 dividend (see Note 17). Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows: Figures in euros 2020 2019 2018 Basic earnings per share 0.24 0.16 0.54 Diluted earnings per share 0.24 0.16 0.54 |
Revenues and Expenses | Revenue and expenses Revenues The breakdown of Revenues for the years 2020, 2019 and 2018 is as follows: Millions of euros 2020 2019 2018 Rendering of services 37,394 42,264 43,085 Sales 5,682 6,158 5,608 Total 43,076 48,422 48,693 Sales mainly include the sale of mobile terminals. Other income The breakdown of “Other income” is as follows: Millions of euros 2020 2019 2018 Own work capitalized 873 890 815 Gain on disposal of companies 67 677 21 Gain on disposal of other assets 276 612 241 Government grants 17 22 22 Other operating income 354 641 523 Total 1,587 2,842 1,622 "Gain on disposal of companies" in 2020 mainly includes the impact of the initial registration of the joint venture of Telefónica with Allianz to deploy Fiber-to-the-Home (FTTH) in Germany (see Note 29.c). "Gain on disposal of companies" in 2019 mainly included the gains for the sales of Antares, Telefonía Celular de Nicaragua and Telefónica Móviles Panama (see Note 2). In addition, in 2019 it included the capital gain for the sale of data centers businesses, amounting to 213 million euros (see Note 2). “Gain on disposal of other assets” includes gains from the sale of telecommunications towers of 39 million euros, 176 million euros and 53 million euros in 2020, 2019 and 2018, respectively. Additionally, in 2019 it included a 95 million euros gain corresponding to licenses with deferred payments of Telefónica México that were released (see Note 2). "Other operating income" in 2019 included 103 million euros corresponding to the amount received for the irrevocable sale of the future credit rights that might arise from the favorable resolution of a number of claims and lawsuits of various kinds that Telefónica had filed at the date of the sale agreement. Furthermore, the agreement included an additional amount of 51 million euros collected from the sale of future credit rights that might arise from claims filed within four years following the date of the agreement. Of this amount, 19 million euros were not yet recognized in the income statement at December 31, 2020. The agreement do not provide for direct or indirect repayment, full or partial, of the cash received, irrespective of the future outcome of such claims. The consideration received as a result of this transaction is approximately 10% of the underlying nominal amount of the current claims. "Other operating income" in 2018 included gains from changes in the fair value of equity instruments for 24 million euros. Other expenses The breakdown of “Other expenses” is as follows: Millions of euros 2020 2019 2018 Leases included in "Other expenses" (1) 89 123 1,071 Other external services 9,617 11,370 11,427 Taxes other than income tax 902 995 365 Change in trade provisions 860 974 785 Losses on disposal of fixed assets and changes in provisions for fixed assets 416 187 35 Goodwill impairment (Note 7) 519 206 350 Other operating expenses 468 589 366 Total 12,871 14,444 14,399 (1) Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 2 and 9). "Losses on disposal of fixed assets and changes in provisions for fixed assets" in 2020 includes impairment losses of intangible assets and property, plant and equipment of Telefónica Argentina, for a total amount of 375 million euros (see Note 7). In 2019 it included a 123 million euros loss on disposal of intangible assets for the return of spectrum licenses of Telefónica Mexico (see Note 2). "Other operating expenses" in 2019 included the impact of the transformation of the operating model of Telefónica Mexico in certain pre-existing service contracts, amounting to 167 million euros (see Note 2). The favorable court rulings obtained by Telefónica Brazil in relation to the right to exclude the state tax on goods and services (ICMS) from the tax base for PIS and COFINS contributions, reduced the “Taxes” item by 789 million euros in 2018. In 2020, a new final decision in favor of Telefónica Brazil was passed, with an impact of 75 million euros (see Note 12). Estimated payment schedule The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows: Millions of euros Purchases and other contractual commitments Less than 1 year 3,939 1 to 3 years 4,267 3 to 5 years 1,027 More than 5 years 905 Total 10,138 Commitments for short-term leases and low value leases amounted to 42 million euros as of December 31, 2020. In addition, lease collection commitments amounted to 14 million euros as of December 31, 2020. Headcount The table below presents the breakdown of the Telefónica Group’s average number of employees by segment (see Note 4) in 2020, 2019 and 2018, together with total headcount at December 31 each year. 2020 2019 2018 Average Year-end Average Year-end Average Year-end Telefónica Spain 22,992 22,978 25,338 23,081 26,892 25,474 Telefónica United Kingdom 6,501 6,318 6,940 6,861 6,732 7,188 Telefónica Germany 7,770 7,701 8,034 7,955 8,366 8,203 Telefónica Brazil 33,938 33,828 33,147 33,905 34,068 33,499 Telefónica Hispam 33,872 33,506 35,928 34,474 38,037 37,490 Telxius Group 509 557 470 494 419 438 Other companies 7,600 7,909 8,168 7,834 8,239 8,507 Total 113,182 112,797 118,025 114,604 122,753 120,799 At December 31, 2020, approximately 38.00% of the final headcount are women (37.84% at December 31, 2019). At December 31, 2020, the number of employees with disabilities is 1,119 (1,081 employees at December 31, 2019), of which 215 employees are in Spain (222 employees in 2019). Depreciation and amortization The breakdown of “Depreciation and amortization” on the consolidated income statement is as follows: Millions of euros 2020 2019 2018 Property, plant and equipment (Note 8) 5,022 5,613 5,751 Intangible assets (Note 6) 2,735 3,248 3,298 Rights of use (Note 9) 1,602 1,721 n.a. Total 9,359 10,582 9,049 The non-current assets of Telefónica United Kingdom ceased to be amortized and depreciated for accounting purposes once they were reclassified as "Non-current assets and disposal groups held for sale" (see Notes 2 and 4). 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 (see Note 17) 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 on the conversion of the mentioned convertible bonds into ordinary shares from the date of their issue. 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 2020 2019 2018 Profit attributable to ordinary equity holders of the parent from continuing operations 1,582 1,142 3,331 Adjustment for the coupon corresponding to undated deeply subordinated securities (335) (379) (540) Tax effect 84 97 138 Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations 1,331 860 2,929 Number of shares (thousands) 2020 2019 (*) 2018 (*) Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share 5,471,160 5,453,145 5,461,067 Telefónica, S.A. share option plans 6,590 4,766 663 Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares) 5,477,750 5,457,911 5,461,730 (*) Revised data. 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 resources, 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 dividend (see Note 17). Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows: Figures in euros 2020 2019 2018 Basic earnings per share 0.24 0.16 0.54 Diluted earnings per share 0.24 0.16 0.54 |
Share-Based Payment Plans
Share-Based Payment Plans | 12 Months Ended |
Dec. 31, 2020 | |
Share-Based Payment Arrangements [Abstract] | |
Share-Based Payment Plans | Share-based payment plans Long-term incentive plan based on Telefónica, S.A. shares: Performance Share Plan 2018-2022 At the General Shareholders’ Meeting held on June 8, 2018, a long-term incentive plan was approved, consisting of the delivery of shares of Telefónica, S.A. aimed at senior executive officers of the Telefónica Group, including the Executive Directors of Telefónica, S.A. The plan consists of the delivery to the participants of a certain number of shares of Telefónica, S.A. based on compliance with the objectives established for each of the cycles into which the plan is divided. The number of shares to deliver will depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telefónica, S.A. with regard to the TSRs of a comparison group made up of companies of the telecommunication sector, weighted by its relevance for Telefónica, and (ii) 50% on the generation of free cash flow of Telefónica Group ("FCF"). The plan will be in force for five years and is divided into three cycles of three years each. The first cycle commenced in 2018 and will be finalized on December 31, 2020. The maximum number of shares assigned to this cycle of the plan was 8,466,996, assigned as of January 1, 2018 with a unit fair value of 6.4631 euros per share for FCF objective and 4.516 euros for TSR. As of December 31, 2020 the number of outstanding shares was 7,093,162. Once considered the target fulfillment levels for 2018, 2019, and 2020, a weighted achievement ratio of 50% has been reached. Performance assessment has been carried out based on the evolution of the stock price and on the audited results of the Company. Nevertheless, on February 23, 2021, the Chairman & CEO declared in the Nominating, Retribution and Good Governance Committee that he considered appropriate to renounce to this incentive perception as a sign of responsibility with society, customers, shareholders and employees of Telefónica as well as a cautious measure after the economic impacts of the CoVID-19 crisis. The COO made the same declaration. The renounce was accepted by the Board of Directors. The second cycle commenced in 2019 and will be finalized on December 31, 2021, with delivery of the respective shares in 2022. The maximum number of shares assigned to this cycle of the plan was 9,471,489 shares and the outstanding at December 31, 2020 8,257,335, with the following breakdown: Second cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 4,735,744.5 4,128,667.5 4.44 FCF Objective 4,735,744.5 4,128,667.5 6.14 In 2020 the third cycle commenced, and it will be finalized on December 31, 2022, with delivery of the respective shares in 2023. The maximum number of shares assigned to this cycle of the plan was 5,346,508 shares and the outstanding shares at December 31, 2020 5,309,098, with the following breakdown: Third cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 2,673,254 2,654,549 1.64 FCF Objective 2,673,254 2,654,549 3.21 Long-term incentive plan based on Telefónica, S.A. shares: “Talent for the Future Share Plan 2018-2022” (TFSP) At its meeting on June 8, 2018, the Telefónica, S.A.'s Board of Directors agreed to launch a new installment of the long-term incentive plan "Talent for the Future Share Plan". The term of this plan is also five years and it is divided into 3 cycles. As in the case of the Performance Share Plan described above, the number of shares to deliver will depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telefónica, S.A. and (ii) 50% on the generation of free cash flow of the Telefónica Group ("FCF"). The first cycle commenced in 2018 and finalized on December 31, 2020. The maximum number of shares assigned to this cycle of the plan was 787,500, assigned as of January 1, 2018 with a unit fair value of 6.4631 euros per share for FCF objective and 4.516 euros for TSR. As of December 31, 2020 the number of outstanding shares was 691,750. The second cycle commenced in 2019 and will be finalized on December 31, 2021, with delivery of the respective shares in 2022. The maximum number of shares assigned to this cycle of the plan was 812,000 shares and there were 745,000 outstanding shares at December 31, 2020, with the following breakdown: Second cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 406,000 372,500 4.44 FCF Objective 406,000 372,500 6.14 In 2020 the third cycle commenced, and it will be finalized on December 31, 2022, with delivery of the respective shares in 2023. The maximum number of shares assigned to this cycle of the plan was 897,400 shares and the outstanding shares at December 31, 2020 894,000, with the following breakdown: Third cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 448,700 447,000 1.64 FCF Objective 448,700 447,000 3.21 Incentivized purchases of Telefónica, S.A. shares for employees The Telefónica, S.A. Ordinary General Shareholders’ meeting on June 8, 2018 approved a new voluntary plan for incentivized purchases of shares of Telefónica, S.A. 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, with the company undertaking to deliver a certain number of free shares to participants, subject to certain requirements. The maximum amount that each employee could invest was limited to 1,800 euros. The employees that remain part of the Telefónica Group and hold on to the shares for one year following the acquisition period (the vesting period), will be entitled to receive one free share for every two shares they purchased and retained throughout the vesting period. In any event, the maximum number of additional shares to be delivered under this plan may not exceed: i) the result of dividing the amount assigned to the Plan, which is a maximum of 30 million euros, by the price at which the acquired shares were purchased pursuant to each of the investment agreements; ii) nor 0.1% of the Company’s capital stock on the date of approval of the plan by the General Shareholders’ Meeting. The purchase period commenced in August 2019. As of December 31, 2020, 16,655 employees had registered for the plan. |
Cash Flow Detail
Cash Flow Detail | 12 Months Ended |
Dec. 31, 2020 | |
Cash Flow Statement [Abstract] | |
Cash Flow Detail | Cash flow detail Net cash flow provided by operating activities The detail of net cash flow provided by operating activities is the following: Millions of euros 2020 2019 2018 Cash received from operations 51,353 57,699 58,815 Cash paid from operations (36,477) (41,224) (42,891) Cash paid to suppliers (31,080) (35,450) (37,044) Cash paid to employees (4,434) (4,934) (5,072) Payments related to cancellation of commitments (963) (840) (775) Net payments of interest and other financial expenses net of dividends received (1,171) (1,725) (1,636) Net interest and other financial expenses paid (1,193) (1,754) (1,664) Dividends received 22 29 28 Taxes proceeds / (payments) (509) 272 (865) Net cash flow provided by operating activities 13,196 15,022 13,423 The net cash flow provided by operating activities in 2020 has been reduced mainly by the decrease in cash received from operations compared to the same period of the previous year. Operating receipts have decreased by 6,346 million euros compared to 2019, highly influenced by the evolution of exchange rates, mainly in Brazil (see Note 2), and the variation in revenues compared to 2019. Operating payments have suffered a behavior similar than operating receipts (-11% compared to 2019), also impacted by exchange rates and the evolution of commercial and operating expenses. Interest payments amounted to 1,171 million euros in 2020, which represents a drop of 32.1% compared to 2019, mainly due to the reduction of debt as well as its cost. The heading "Taxes proceeds/(payments)" in 2020 is higher than 2019 due to the extraordinary refund that occurred last year for overpayments made amounting to 702 million euros, and the corresponding compensating interests amounting to 201 million euros. Excluding these effects, the tax payment is lower due to lower payments on account, partially offset by extraordinary payments in Telefónica Mexico and lower returns from previous years. Net cash flow used in investing activities The detail of "(Payments on Investments)/proceeds from the sale in property, plant and equipment and intangible assets, net" is the following: Millions of euros 2020 2019 2018 Proceeds from the sale in property, plant and equipment and intangible assets 509 751 192 Payments on investments in property, plant and equipment and intangible assets (7,529) (8,410) (8,777) (Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net (7,020) (7,659) (8,585) Payments for non-financed spectrum in 2020 totaled 125 million euros, mainly due to the payment of 114 million euros for Telefónica United Kingdom. Payments for non-financed spectrum in 2019 totaled 158 million euros, mainly due to the payment of 130 million euros for Telefónica Mexico. The detail of "Proceeds on disposals of companies, net of cash and cash equivalents disposed" is the following: Millions of euros 2020 2019 2018 Sale of Axonix Ltd and Telefónica Digital Inc. — — 29 Sale of Seguros de Vida y Pensiones Antares, S.A. (Note 2) — 151 — Sale of Telefónica Móviles Guatemala, S.A. (Note 2) — 270 — Sale of Telefonía Celular de Nicaragua, S.A. (Note 2) — 342 — Sale of Telefónica Móviles Panamá, S.A. (Note 2) — 519 — Sale of data center businesses (Note 2) — 515 — Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panamá in Telefónica Centroamérica Inversiones, S.L. 71 (83) — Others 10 9 — Proceeds on disposals of companies, net of cash and cash equivalents disposed 81 1,723 29 Payments on investments in companies, net of cash and cash equivalents acquired (79) (12) (3) 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 2020 2019 2018 Investments of Seguros de Vida y Pensiones Antares, S.A. — 3 78 Sale of stake in Shortcut I GmbH & Co. KG — — 21 Collateral guarantees on derivatives 2,224 1,793 806 Legal deposits 63 11 — Others 21 28 99 Proceeds on financial investments not included under cash equivalents 2,308 1,835 1,004 Legal deposits — (33) (54) Collateral guarantees on derivatives (3,251) (947) (754) Derivatives of Telefónica, S.A. — (12) — Capital increase in PRISA (Note 12) — (15) — Others (46) (125) (157) Payments on financial investments not included under cash equivalents (3,297) (1,132) (965) Payments and proceeds on placements of cash surpluses not included under cash equivalents in 2020 largely relate to placements made by Telefónica, S.A. Payments and proceeds on placements of cash surpluses not included under cash equivalents in 2019 largely relate to placements made by Telefónica, S.A. and Telefónica Móviles Argentina, S.A. Net cash flow used in financing activities The detail of dividends paid, proceeds from issue of share capital increase, payments and proceeds of treasury shares and other operations with shareholders and minority interests, and operations with other equity holders is the following: Millions of euros 2020 2019 2018 Dividends paid to the shareholders of Telefónica, S.A. (*) (825) (2,056) (2,048) Payments to non-controlling interests of Telefônica Brasil, S.A. (227) (352) (245) Payments to non-controlling interests of Telefónica Deutschland Holding, A.G. (156) (247) (238) Payments to non-controlling interests of Telefónica Centroamérica Inversiones, S.L. (39) — (28) Payments to non-controlling interests of Telxius Telecom, S.A. and Pontel Participaciones, S.L. (44) (86) (231) Others (5) (1) (4) Dividends paid (see Note 17) (1,296) (2,742) (2,794) Share capital increase Pontel and Telxius (see Note 17.i) 323 — — Sale of 16.65% of Pontel Participaciones, S.L. (see Note 5) — — 379 Transactions carried out by Telefónica, S.A. (see Note 17) (217) (86) — Telefónica Centroamérica Inversiones, S.L. — (414) — Others (6) (4) — (Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests (223) (504) 379 Issuance of undated deeply subordinated securities (Note 17) 500 1,800 2,250 Acquisition of undated deeply subordinated securities (Note 17) (385) (935) (1,779) Payment of undated deeply subordinated securities (Note 17) (808) (118) (473) Payment of the coupon related to the issuances of undated deeply subordinated securities issued (see Note 17) (327) (357) (559) Operations with other equity holders (1,020) 390 (561) (*) This amount differs from that indicated in Note 17 because of withholding taxes deducted in the payment to certain major shareholders in accordance with current legislation. 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, lease principal payments and financed operating payments and investments in property, plant and equipment and intangible assets payments is the following: Millions of euros 2020 2019 2018 Issued under the EMTN program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) 3,500 2,500 2,000 Issued under the SHELF program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) — 1,113 1,746 Issuance of O2 Telefónica Deutschland Finanzierungs, GmbH (Appendix III) — — 600 Issuance of Telefónica del Perú, S.A.A. (*) — 457 — Issuance of Colombia Telecomunicaciones S.A, E.S.P. 408 — — Others 103 116 (57) Proceeds on issue of debentures and bonds, and other debts 4,011 4,186 4,289 Structured financing — — 750 Disposal bilateral loans of Telefónica, S.A. (see Note 18) 350 200 585 Syndicated loan of Telxius Telecom, S.A. — — 289 Syndicated bilateral loan of Telxius Telecom, S.A. — 150 — Settlement of nominal value of gross debt hedging derivatives 1,119 153 209 Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, E.S.P. 436 — — Others 2,611 1,199 2,349 Proceeds on loans, borrowings and promissory notes (see Appendix V) 4,516 1,702 3,973 Repayments of debentures and bonds, and other debts (6,728) (3,653) (4,654) Amortization bilateral loans of Telefónica, S.A. — (1,835) (800) Amortization of structured financing of Telefónica Europe B.V. — (1,500) — Settlement of nominal value of amortized debt hedging derivatives (139) (148) (52) Others (2,713) (2,873) (3,188) Repayments of loans, borrowings and promissory notes (see Appendix V) (2,852) (6,356) (4,040) Lease principal payments (Note 20) (1,787) (1,518) — Financed spectrum licenses payments (Note 21) (60) (59) (44) Payments for investments in spectrum use licenses financed without explicit interest (87) (87) — Payments to suppliers with extended payment terms (Note 18) (235) (380) (428) Financed operating payments and investments in property, plant and equipment and intangible assets payments (382) (526) (472) (*) Data converted at the exchange rate at the end of each of the corresponding periods. 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, 2020 | |
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.n) when the consolidated financial statements for the year ended December 31, 2020 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 2020 are highlighted (see Note 25 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 "Telefónica 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, Telefónica 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. Appeal against the Decision of the European Commission 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 European Commission 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 companies were venturers and which was the owner of the Brazilian company Vivo . On January 23, 2013, the European Commission passed a ruling on the formal proceedings. The ruling imposed a fine on Telefónica in the amount of 67 million euros, as the European Commission 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 European Commission, in which the European Commission reaffirmed the main arguments of its ruling and, specifically, that Clause Nine includes a competition restriction. On September 30, 2013, Telefónica filed its reply. On December 18, 2013, the European Commission 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 declared the existence of an infringement of competition law, it annulled Article 2 of the contested Decision and required the European Commission to reassess the amount of the fine imposed. The General Court considered that the European Commission 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 European Commission 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. 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. Decision by the High Court regarding the acquisition by Telefónica of shares in Český Telecom by way of a tender offer Venten Management Limited ("Venten") and Lexburg Enterprises Limited ("Lexburg") were non-controlling 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 favorable 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 korunas (approximately 23 million euros) to Venten and 227 million Czech korunas (approximately 8 million euros) to Lexburg, in each case plus interest. On December 28, 2016, the decision was notified to Telefónica. Telefónica 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. On February 14, 2019, notification was given to Telefónica of the resolution of the Supreme Court which, based on the extraordinary appeal filed by Telefónica, abolished the decision of the High Court in Prague dated August 5, 2016 and remanded the case back to the High Court. Claim by Entel against Telefónica de Argentina, S.A. In 1999, Entel (the National Telecommunications Company of Argentina before its privatization) sued Telefónica de Argentina, S.A. ("TASA"), who was the licensee of the telecommunications 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 telecommunications 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 telecommunications service (i.e., the consumptions charges for telecommunications 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 amounts 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 the interest. 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). On February 22, 2018, Entel submitted the new principal and interest calculations required by the judge, claiming an amount of 1,689 million Argentine pesos (approximately 39 million euros at exchange rates on December 31, 2018). 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. On March 26, 2019, the Court of First Instance finally ruled to approve the amounts that ENTEL had submitted totaling 1,689 million Argentine pesos (approximately 35 million euros at exchange rates as of that date). The ruling of the Court of First Instance was confirmed by the Court of Appeals. In September 2020, ENTEL requested the court to update such amount to 3,833 million Argentine pesos (approximately 37 million euros at exchange rates as of that date). On December 29, 2020, TASA paid 1,689 million Argentine pesos (approximately 16 million euros at exchange rates as of that date) based on the amount approved by the Court of First Instance in March 2019. The court will have to decide on the difference between the 1,689 million Argentine pesos paid and the 3,833 million Argentine pesos (approximately 37 million euros at exchange rates as of that date) requested by ENTEL. Appeal against the resolution of ANATEL to sanction Telefónica Brasil for breaches of the Fixed Telephony Regulation In May 2018, Telefónica filed a judicial action for annulment against a resolution issued by ANATEL (the National Telecommunications Agency of Brazil) in March 2018 concluding the PADO (“Processo Administrativo para Apuração de Descumprimento de Obrigações” or Administrative Process for Determination of Non-compliance with Obligations) investigating alleged infractions of the Fixed Telephony Regulation by Telefônica Brasil. This PADO investigation had been suspended during the negotiations of the TAC (“Termo de Ajustamento de Conduta” or Conduct Adjustment Term) between Telefónica and ANATEL relating to this and certain other PADO investigations. Since the negotiations concluded without agreement, the suspended PADO sanctioning procedures were reactivated and finalized. In its resolution of March 2018, ANATEL considered that Telefónica Brasil committed several infractions, in particular those related to the inadequate notice of suspension of services to defaulting users, the terms of reactivation of services after payment of outstanding amounts by defaulting users and the disagreement with the terms of refunds claimed by users of the services. The fine imposed by ANATEL and appealed by Telefónica Brasil is approximately 211 million Brazilian reals (approximately 33 million euros), which amounted to approximately 516 million Brazilian reals after currency value updates and accrued interest as of December 31, 2020 (approximately 81 million euros). Telefónica Brasil has appealed the fine imposed by ANATEL based, fundamentally, on the following arguments: (i) ANATEL should have considered a smaller universe of users to determine the fine and (ii) the calculation of the fine is disproportionate and based on insufficient grounds. Telefónica Brasil has not yet paid the fine, although Telefónica Brasil has guaranteed its payment through a guarantee insurance submitted to the court. As of the date of these financial statements, there has been no conciliation and the proceeding is following its normal course. ICSID Arbitration Telefónica, S.A. vs. Republic of Colombia In the local arbitration brought by Colombia against Colombia Telecomunicaciones (“ColTel”), on July 25, 2017, the local arbitration tribunal ordered ColTel to pay 470 million euros as economic compensation for the reversion of assets related to voice services in relation to the concession granted between 1994 and 2013. On August 29, 2017, ColTel’s share capital was increased in order to make the payment ordered by the local arbitral award; Telefónica, S.A. contributed and disbursed an amount equivalent to 67.5% of the award’s amount (317 million euros) and the Colombian Government contributed an amount equivalent to the remaining 32.5% (153 million euros). On February 1, 2018, Telefónica, S.A. filed a Request for Arbitration against Colombia at the International Centre for Settlement of Investment Disputes ("ICSID"), which was formally registered on February 20, 2018. The ICSID Court was constituted on February 26, 2019, with José Emilio Nunes Pinto as President, Horacio A. Grigera Naón appointed by Telefónica, S.A., and Yves Derains appointed by Colombia. Colombia filed Preliminary Objections on Jurisdiction on August 5, 2019. Telefónica, S.A. responded to Colombia’s objections in its Claimant’s Memorial on September 23, 2019, in which it also requested that Colombia pay compensation for damages caused to Telefónica, S.A. On October 23, 2019, Colombia submitted its Complementary Objections on Jurisdiction as well as a request for Bifurcation, to which Telefónica, S.A. responded on November 29, 2019. On January 24, 2020, the Court dismissed the request for Bifurcation presented by Colombia, ordering the continuation of the proceeding. A decision on the merits of Telefónica, S.A.’s claim is pending. On July 3, 2020, Colombia filed its reply to the claim filed by Telefónica before the ICSID. On November 2, 2020, Telefónica presented its response to Colombia's reply. Telefónica's lawsuit against Millicom International Cellular for default in the sale of Telefónica Costa Rica Telefónica, S.A. (Telefónica) and Millicom International Cellular, S.A. (Millicom) reached an agreement on February 20, 2019 for the purchase and sale of the entire capital stock of Telefónica de Costa Rica TC, S.A. In March 2020, Telefónica informed Millicom that, once the pertinent regulatory authorizations had been obtained and all the other conditions established in the aforementioned agreement for the execution of the sale had been completed, the execution of the contract and the closing of the transaction should be in April 2020. Millicom expressed its refusal to proceed with the closing, arguing that the competent Costa Rican administrative authorities had not issued the appropriate authorization. On May 25, 2020, Telefónica filed a lawsuit against Millicom before the New York Supreme Court, considering that Millicom had breached the terms and conditions established in the sale contract, demanding compliance with the provisions of the aforementioned agreement, and compensation for all damages that this unjustified breach could cause to Telefónica. On June 29, 2020, Millicom filed a Motion to Dismiss, to which Telefónica replied on July 8, 2020. On August 3, 2020, Telefónica submitted an amendment to the lawsuit, removing the requirement to comply with the provisions of the sale and purchase contract and requesting only compensation for all damages that the unjustified breach of said agreement could cause Telefónica. On January 5, 2021, the Motion to Dismiss filed by Millicom in June 2020 was dismissed by the New York Supreme Court. b) Other proceedings The Group is currently cooperating with governmental authorities (and, where appropriate, conducting the relevant internal investigations) regarding requests for information potentially related, directly or indirectly, to possible violations of applicable anti-corruption laws. Telefónica believes that, considering the size of the Group, any potential penalty as a result of matters relating to those specific information requests would not materially affect the Group's financial condition. 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 has been amended on May 16, 2014, on November 8, 2016, on May 11, 2018 and on November 28, 2019. 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 for Brazil and Spain. Additionally, from January 1, 2019 a new reduction of the minimum commitment has been agreed, in this case only for Spain. Failure to meet the annual turnover commitments in principle 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. Notwithstanding the above, as a consequence of the amendment signed with the Atento Group on May 11, 2018, from January 1, 2018 the payment obligation for failure to meet the annual turnover commitment continues to be calculated every year but will only be liquidated upon termination of the agreement. Such payment will only be due if the balance is in favor of Atento after adding certain amounts agreed between the parties and deducting an annual percentage of the Atento Group’s sales to the Telefónica Group. The Master Agreement sets forth a reciprocal arrangement, whereby Atento assumes similar commitments to subscribe certain telecommunications services from Telefónica. Investment Framework Agreement between the shareholders of Colombia Telecomunicaciones, S.A. ESP - Sale of shares 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 could, 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. This right expired on March 22, 2019. Pursuant to the exercise by Colombian Government of its right to 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, on March 22, 2018, and upon request of the Government of Colombia, the General Shareholders Meeting of Colombia Telecomunicaciones, S.A. ESP approved to apply for 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. Telefónica is under no obligation whatsoever to purchase or transfer any of its shares in Colombia Telecomunicaciones, S.A. ESP, either as a result of the shareholders´resolution, or a result of the register in the National Securities and Issuer’s Registry or in the Colombia Stock Exchange. Following the registration in the National Securities and Issuer’s Registry on May 10, 2018, the Colombia Stock Exchange approved the conditional registration of the shares of Colombia Telecomunicaciones, S.A. ESP on May 23, 2018, subject to the effective fulfillment by the Colombian Government of the issuance of a first public tender offer to the so-called solidarity sector (“sector solidario”) pursuant to Law 226 of 1995 (December 20), which develops article 60 of the Colombian Constitution on the disposal of national property in share capital, the adoption of measures to democratize such property and other relevant provisions. On August 2, 2018, the Nation - Ministry of Finance and Public Credit, as shareholder of Colombia Telecomunicaciones, S.A. ESP, published a notice of public offering of the shares of its property in Colombia Telecomunicaciones, S.A. ESP to the solidary sector in accordance with Law 226 of 1995. Thus, resulting from said publication, Colombia Telecomunicaciones, S.A. ESP and its ordinary shares were registered in the Colombian Stock Exchange. Through Informative Document No. 242 of October 3, 2018, the Colombian Stock Exchange informed that the first stage of the sale program of the shares owned by the Nation - Ministry of Finance and Public Credit in Colombia Telecomunicaciones, S.A. ESP, aimed at the solidarity sector, was declared inconclusive as no acceptances at all were received during the term of the offer. The period of validity of the Nation's shares sale program was one year since July 13, 2018. The Nation could extend the period one additional year, besides it could suspend or terminate in advance. The Nation did not extend the period of the sale program. In addition, the Framework Investment Agreement provides that (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. 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 T-Gestiona 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. Commitments derived from the agreements reached for the acquisition of football (soccer) related rights between Telefónica (through its affiliate Telefónica Audiovisual Digital, S.L.U.) and La Liga/Mediapro and UEFA On June 25, 2018, Telefónica was provisionally awarded with the broadcasting rights for all football (soccer) matches of the Spanish First Division Football League National Championship in the residential subscribers market for exploitation on pay television for the 2019-2022 cycle (packages 4 and 5 of the auction called by the Professional Football League). The definitive agreements were signed on July 5, 2018. The award was granted for a total amount of 2,940 million euros, at an identical price of 980 million euros for each of the three seasons, which represents a slight decrease compared to the last season of the previous cycle. Telefónica, as the operator of these broadcasting rights for the 2019-2022 cycle, has the right to decide, design and develop the broadcasting content, which carried the Movistar hallmark for the 2019-2020 season. Additionally, on June 28, 2018, Telefónica and Mediaproducción, S.L.U. ("Mediapro"), reached an agreement whereby Telefónica acquired the pay television rights of football (soccer) matches of the "UEFA Champions League" and "UEFA Europa League" competitions corresponding to the three seasons 2018/19, 2019/20 and 2020/21. Such matches may be included in thematic channels produced by Telefónica and be sold to private or residential clients. Telefónica will have the right to exploit such license on an exclusive basis with the exception of certain matches of the "UEFA Europa League" competition that Mediapro has reserved for its free-to-air television broadcast along with highlights programs covering both competitions. The total consideration agreed for the three seasons was 1,080 million euros (360 million euros for each of the three seasons). Telefónica may sublicense the related thematic channels to other operators interested in this content. Mediapro will have the right to receive a share of advertising revenues from the new channels that Telefónica intends to launch. These channels will carry the Movistar hallmark. The aforementioned license was subject to UEFA’s approval, which was granted in August 2018. On December 21, 2018, Telefónica was provisionally awarded with the broadcasting rights for all football (soccer) matches of the Spanish Second Division Football League National Championship in the residential subscribers market for exploitation on pay television for the 2019-2022 cycle (package 6 of the auction called by the Professional Football League). No other bids were submitted for such package during the first round of the auction called by the Professional Football League. The award was granted for a total amount of 105 million euros (i.e., 35 million euros for each of the three seasons). On January 11, 2019 the definitive agreement on such broadcasting rights (package 6) was signed. On July 2, 2020 Telefónica signed an agreement for acquiring the exclusive media rights in Spain of UEFA Champions League and UEFA Europa League, as well as the UEFA Europa Conference League (a new competition to be separated from the UEFA Europa League) and UEFA Youth League, for the next cycle comprising seasons 2021/22, 2022/23 and 2023/2024, once the aforementioned agreement with Mediapro of June 28, 2018 expires. The agreement guarantees Telefónica all media rights with respect to the main European football competitions for all its customers, both residential and horecas (hotels, restaurants, cafes, etc.). The direct acquisition from UEFA of this "premium" content will also allow Telefónica to continue designing and selling its own produced channels and content with the best European football that could be, likewise, accessible to other operators in the market interested in this content. The total award price for all competitions amounted to 975 million euros, i.e. 325 million euros for each of the seasons 2021/22, 2022/23 and 2023/2024, which is less than the license fees paid for the current cycle and without any year-to-year increase. Agreement for the sale of Telefónica de Costa Rica On February 20, 2019, Telefónica, S.A. reached an agreement with Millicom International Cellular, S.A. for the sale of 100% of Telefónica de Costa Rica TC, S.A., a company that provides fixed and mobile communication services in Costa Rica, for an amount (enterprise value) of 570 million dollars, approximately 503 million euros at the exchange rate as of the date of the agreement. Once the relevant regulatory approvals were obtained and all the remaining conditions set forth in the agreement for the consummation of the sale of Telefónica de Costa Rica were completed, Millicom International Cellular, S.A. refused to close the acquisition arguing that one of the Costa Rican |
Operations Classified as Held f
Operations Classified as Held for Sale | 12 Months Ended |
Dec. 31, 2020 | |
Assets And Liabilities Classified As Held For Sale [Abstract] | |
Operations Classified as Held for Sale | Operations classified as held for sale The breakdown of non-current assets and disposal groups held for sale and liabilities associated at December 31, 2020 and December 31, 2019 is as follows: 2020 Millions of euros Non-current assets and disposal groups held for sale Liabilities associated with non-current assets and disposal groups held for sale Telefónica United Kingdom 13,053 3,704 Telecommunications towers divisions of Telxius 1,912 866 Telefónica de Costa Rica 420 221 Other assets 28 — Total 15,413 4,791 2019 Millions of euros Non-current assets and disposal groups held for sale Liabilities associated with non-current assets and disposal groups held for sale Telefónica Móviles El Salvador 327 136 Telefónica de Costa Rica 439 244 Other assets 52 — Total 818 380 On May 7, 2020, Telefónica reached an agreement with Liberty Global plc to combine into a 50-50 joint venture their operating businesses in the United Kingdom (see Note 2). The non-current assets of Telefónica United Kingdom ceased to be amortized and depreciated for accounting purposes from the date they were reclassified as non-current assets held for sale (see Note 4). The accumulated amount of translation differences of companies whose reporting currency is the pound sterling is disclosed in Note 17.f. On January 13, 2021, Telxius Telecom, S.A. (a company of the Telxius Group), has signed an agreement with American Tower Corporation for the sale of its telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (Brazil, Peru, Chile and Argentina), for an amount of 7.7 billion euros (see Note 2). On July 30, 2020, Telefónica reached an agreement with Liberty Latin America Ltd. for the sale of the entire share capital of Telefónica de Costa Rica TC, S.A. At the date of issue of these consolidated financial statements, the closing of the transaction is subject to the pertinent regulatory approvals (see Note 2). At December 31, 2019 the closing of the Telefónica Móviles El Salvador sale was pending approval by the competition authority. In 2020, Telefónica and América Móvil, S.A.B de C.V. terminated the purchase agreement (see Note 2). As a consequence, Telefónica Móviles El Salvador ceased to be classified as a disposal group held for sale. This has led to the reclassification of the assets and liabilities to the corresponding captions of the consolidated statement of financial position. This change in classification has also resulted in the recognition in 2020 of the amortisation and depreciation charges corresponding to years 2019 and 2020 amounting to 32 million euros and 33 million euros, respectively, together with the corresponding impacts on taxes and non-controlling interests, arriving to a net impact on net income attributable to equity holders of the parent of 14 million euros and 20 million euros, respectively. The breakdown of assets and liabilities of Telefónica de Costa Rica, the telecommunications towers divisions of Telxius and Telefónica United Kingdom, classified as Non-current assets and disposal groups held for sale and associated liabilities in the consolidated statement of financial position at December 31, 2020 is as follows: 2020 Millions of euros T. Costa Rica Telecommunications towers divisions of Telxius T. United Kingdom Non-current assets 355 1,885 10,950 Intangible assets 64 36 1,619 Goodwill — 262 4,594 Property, plant and equipment 101 766 3,668 Rights of use 134 555 666 Investments accounted for by the equity method — — 10 Financial assets and other non-current assets 27 16 392 Deferred tax assets 29 250 1 Current assets 65 27 2,103 Inventories 5 — 141 Receivables and other current assets 50 12 1,876 Tax receivables 2 1 — Other current financial assets — — 80 Cash and cash equivalents 8 14 6 Non-current liabilities 158 631 848 Non-current lease liabilities 88 412 318 Payable and other non-current liabilities — — 226 Deferred tax liabilities 66 7 205 Non-current provisions 4 212 99 Current liabilities 63 235 2,856 Current lease liabilities 16 158 204 Payables and other current liabilities 34 72 1,994 Tax payables 13 5 583 Current provisions — — 75 The breakdown of assets and liabilities of Telefónica de Costa Rica and Telefónica Móviles El Salvador, classified as Non-current assets and disposal groups held for sale and associated liabilities in the consolidated statement of financial position at December 31, 2019 was as follows: 2019 Millions of euros T. Costa Rica T. Móviles El Salvador Non-current assets 352 279 Intangible assets 72 34 Goodwill — 63 Property, plant and equipment 100 124 Rights of use 139 53 Financial assets and other non-current assets 13 3 Deferred tax assets 28 2 Current assets 87 48 Inventories 9 4 Receivables and other current assets 61 31 Tax receivables 4 2 Other current financial assets — 2 Cash and cash equivalents 13 9 Non-current liabilities 166 69 Non-current financial liabilities — 13 Non-current lease liabilities 104 35 Payable and other non-current liabilities — 1 Deferred tax liabilities 58 15 Non-current provisions 4 5 Current liabilities 78 67 Current financial liabilities — 23 Current lease liabilities 19 11 Payables and other current liabilities 47 32 Tax payables 12 1 |
Events After the Reporting Peri
Events After the Reporting Period | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 and the date of authorization for issue of the accompanying consolidated financial statements: • On January 13, 2021, Telefónica's subsidiary, Telxius, signed two agreements with American Tower International, Inc. (the “Purchaser”), a subsidiary of American Tower Corporation ("ATC"), for the sale of its telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (Brazil, Peru, Chile and Argentina), for a total cash consideration of 7.7 billion euros, (including the Purchaser's assumption of the future committed acquisitions), subject to certain closing adjustments. The agreement establishes the sale of approximately 30,722 telecommunication tower sites through two separate and independent transactions. Among other aspects, the agreements include the Purchaser’s commitment to maintain employment post-closing of the transactions. Additionally, the Telefónica Group operators will maintain the current tower lease agreements signed with the companies being sold so that these companies will continue to provide their services on similar terms to the operators as those currently provided. Renewal conditions do not include any new "all or nothing" clauses (see Note 29.c). • On January 29, 2021, a Purchase and Sale Agreement was entered into among Telefónica Brasil S.A., Tim S.A. and Claro S.A., (jointly the “Purchasers”) and Oi Móvel S.A. (the “Seller”) of the mobile assets of the Oi Group, of which they were declared winners at the judicial auction held on December 14, 2020. The effectiveness of this acquisition by the Purchasers is subject to certain conditions usually applicable to transactions of this nature, all of which are part of the purchase and sale agreement, including obtaining the required regulatory authorizations. In addition, this acquisition shall take place in accordance with the segregation plan of such assets. • In February 2021, Telefónica Europe, B.V. announced the following transactions related to its hybrid capital: (a) a new issue amounting to 1,000 million euros, guaranteed by Telefónica, S.A. The net proceeds thereof will be subject to specific eligibility criteria to be applied to new or existing projects, as detailed in Telefónica's Sustainable Development Goals Framework (the "SDG Framework"). The SDG Framework is in accordance with the Green Bond Principles 2018, Social Bond Principles 2018 and Sustainability Bond Guidelines 2018, each published by the International Capital Market Association. The settlement took place on February 12, 2021. (b) a tender offer on hybrid instruments in euros, with first call date in March 2022. Telefónica Europe, B.V. offered to purchase for cash any and all of the tendered securities in an aggregate principal amount of 758 million euros. The tender offer settled on February 15, 2021. • On February 8, 2021, Telefónica Brasil S.A parcial redeemed 1,000 million Brazilian reais of its bond, issued on February 8, 2017. • On February 10, 2021, Telefónica Germany GmbH & Co. OHG redeemed 500 million euros of its bond, issued on February 10, 2014. • On February 16, 2021, Telefónica Emisiones, S.A.U. redeemed 1,500 million dollars of its notes issued on February 16, 2011. These notes were guaranteed by Telefónica, S.A. • On February 22, 2021, Telefónica Chile, S.A. entered into a stock purchase agreement with KKR Alameda Aggregator L.P. (a vehicle controlled by funds managed or advised by KKR affiliated entities) for the sale of 60% of the shares of InfraCo, SpA ("InfraCo"). As part of the transaction, Telefónica Chile will sell approximately two million homes passed with fiber to InfraCo. Additionally, Telefónica Chile and InfraCo will enter into certain agreements for the provision of various services, including an agreement to provide wholesale connectivity services to Telefónica Chile on InfraCo’s fiber network. The transaction values InfraCo at 1.0 billion U.S. dollars (approximately 0.8 billion euros at the exchange rate as of the date of the agreement). |
Appendix I_ Scope of Consolidat
Appendix I: Scope of Consolidation | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 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 Contenidos, 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 de Contenidos, S.A.U. Telefónica Servicios Integrales de Distribución S.A.U. Spain EUR 2 100 % Telefónica de España, S.A.U. Telefónica de Contenidos, S.A.U. Spain EUR 226 100 % Telefónica, S.A. 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 de Contenidos, S.A.U. TBSC Barcelona Producciones, S.L.U. Spain EUR — 100 % Telefónica Broadcast Services, S.L.U. Telefónica Audiovisual Digital, S.L.U. Spain EUR 46 100 % Telefónica de Contenidos, S.A.U. Compañía Independiente de Televisión, S.L. Spain EUR 1 100 % Telefónica Audiovisual Digital, S.L.U. Telefónica Global Technology, S.A.U. Spain EUR 16 100 % Telefónica de Contenidos, S.A.U. Buendía Producción, S.L. Spain EUR — 50 % Telefónica Audiovisual Digital, S.L.U. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica United Kingdom O2 Holdings Ltd United Kingdom GBP 12 100 % Telefónica O2 Holding Ltd. Telefónica United Kingdom Ltd. United Kingdom GBP 10 100 % O2 Holdings Ltd. Giffgaff Ltd United Kingdom GBP — 100 % Telefónica United Kingdom Ltd. O2 Networks Ltd. United Kingdom GBP — 100 % O2 Holdings Ltd. Cornerstone Telecomunications United Kingdom 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 Service GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG Telefónica Germany Business Sales GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG O2 Telefónica Deutschland Finanzierungs GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG Telefónica Brazil Telefônica Brasil, S.A. Brazil BRL 63,571 73.69 % Telefónica Latinoamérica Holding, S.L.U.(24.18%) Terra Networks Brasil, Ltda. Brazil BRL — 73.69 % Telefônica Brasil, S.A. Telefônica Infraestructura e Segurança Brasil Ltda. Brazil BRL — 73.69 % Terra Networks Brasil, Ltda. Telxius Group Telxius Telecom, S.A. Spain EUR 260 50.01 % Pontel Participaciones, S.L. Telxius Cable América, S.A. Uruguay USD 507 50.01 % Telxius Telecom, S.A. Telxius Cable España, S.L.U. Spain EUR 5 50.01 % Telxius Telecom, S.A. Telxius Cable República Dominicana, S.A.S. Republica Dominicana USD 3 50.01 % Telxius Cable América, S.A. (49.51%) Telxius Cable Argentina, S.A. Argentina USD 78 50.01 % Telxius Cable América, S.A. (49.98%) Telxius Cable Panamá, S.A. Panama USD 17 50.01 % Telxius Cable América, S.A. Telxius Cable Puerto Rico, Inc. Puerto Rico USD 24 50.01 % Telxius Cable América, S.A. Telxius Cable USA, Inc. USA USD 58 50.01 % Telxius Cable América, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telxius Group (Cont.) Telxius Cable Ecuador, S.A. Ecuador USD 5 50.01 % Telxius Cable América, S.A. (50%) Telxius Cable Chile, S.A. Chile USD 37 50.01 % Telxius Cable América, S.A. Telxius Cable Guatemala, S.A. Guatemala USD 24 50.01 % Telxius Cable América, S.A. Telxius Cable Perú, S.A.C. Peru USD 20 50.01 % Telxius Cable América, S.A. Telxius Cable Colombia, S.A. Colombia USD 4 50.01 % Telxius Cable América, S.A. (47.50%) Telxius Cable Brasil Participaçoes, Ltda. Brazil USD 62 50.01 % Telxius Cable América, S.A. Telxius Cable Brasil, Ltda. Brazil USD 74 50.01 % Telxius Cable Brasil Participaçoes, Ltda. Telxius Cable Bolivia, S.A. Bolivia USD 5 50.01 % Telxius Cable América, S.A. (49.01%) Telxius Group - companies held for sale Inmosites, S.A.U. Spain EUR 13 50.01 % Telxius Telecom, S.A. Telxius Torres Latam, S.L.U. Spain EUR 8 50.01 % Telxius Telecom, S.A. Telxius Torres España, S.L.U. Spain EUR 10 50.01 % Telxius Telecom, S.A. Telxius Towers Germany, Gmbh. Germany EUR — 50.01 % Telxius Telecom, S.A. Telxius Torres Perú S.A.C. Peru PEN 104 50.01 % Telxius Torres Latam, S.L.U. Telxius Torres Chile Holding, S.A. Chile EUR 8 50.01 % Telxius Torres Latam, S.L.U. (50%) Telxius Torres Chile, S.A. Chile CLP 29,221 50.01 % Telxius Torres Chile Holding, S.A. Telxius Torres Brasil, Ltda. Brazil BRL 1,352 50.01 % Telxius Torres Latam, S.L.U. Inmosites Brasil Participaçoes Imobiliarias Ltda Brazil BRL 14 50.01 % Telxius Torres Brasil, Ltda. Telxius Torres Argentina, S.A. Argentina ARS 2,097 50.01 % Telxius Torres Latam, S.L.U. (47.51%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Hispam Telefónica Hispanoamérica, S.A.U. Spain EUR — 100 % Telefónica, S.A. Telefónica Venezolana, C.A. Venezuela VESM 12,576 100 % Telefónica Hispanoamérica, S.A.U. (97.44%) Colombia Telecomunicaciones, S.A. ESP Colombia COP 3,410 67.50 % Telefónica Hispanoamérica, S.A.U. (67.50%) Operaciones Tecnológicas y Comerciales S.A.S Colombia COP 2,330 67.50 % Colombia Telecomunicaciones, S.A. ESP (67.50%) Telefónica Móviles México, S.A. de C.V. Mexico MXN 100,264 100 % Telefónica, S.A. Terra Networks México, S.A. de C.V. Mexico MXN 47 100 % Terra Networks Mexico Holding, S.A. de C.V. Fisatel Mexico, S.A. de C.V. Mexico MXN 3,505 100 % Telefónica Hispanoamérica, S.A.U. (99.99%) Otecel, S.A. Ecuador USD 183 100 % Telefónica Hispanoamérica, S.A.U. Telefónica de Argentina, S.A. Argentina ARS 64,520 100 % Telefónica Móviles Argentina, S.A. (87.8%) Telefónica Móviles Argentina, S.A. Argentina ARS 9,251 100 % Telefónica, S.A. (73.20%) Telefónica Móviles Chile, S.A. Chile CLP 1,364,872 100 % Inversiones Telefónica Internacional Holding S.A. (98.96%) Telefónica Chile, S.A. Chile CLP 569,773 99.14 % Telefónica Móviles Chile, S.A. Telefónica Chile Holdings, S.L. Chile CLP — 100 % Telefónica Hispanoamérica, S.A.U. Telefónica del Perú, S.A.A. Peru PEN 2,954 98.94 % Telefónica Hispanoamérica, S.A.U. Media Networks Latin America, S.A.C Peru USD 91 100 % Telefónica Latinoamérica Holding, S.L.U. Telefónica Móviles del Uruguay, S.A. Uruguay UYU 1,107 100 % Telefónica Hispanoamérica, S.A.U. Other companies Telefónica Infra, S.L. Spain EUR — 100 % Telefónica , S.A. Telefónica Infra Germany GmbH Germany EUR — 100 % Telefónica Infra, S.L. Telefónica O2 Holdings Ltd. United Kingdom GBP 9 100 % Telefónica, S.A. (99.99%) MmO2 plc United Kingdom GBP — 100 % Telefónica O2 Holding Ltd. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies (Cont.) O2 International Holdings Ltd. United Kingdom GBP — 100 % O2 (Europe) Ltd. O2 (Netherlands ) Holdings BV. Netherlands EUR — 100 % O2 International Holdings Ltd. Telefónica Germany Holdings Ltd. United Kingdom EUR — 100 % O2 (Europe) Ltd. O2 (Europe) Ltd. United Kingdom EUR 1,239 100 % Telefónica, S.A. Telefónica International Holding, B.V Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L.U. Telefónica Latinoamérica Holding, S.L.U. Spain EUR 237 100 % Telefónica, S.A. Sao Paulo Telecomunicaçoes Participaçoes Ltda Brazil BRL 14,804 100 % Telefónica Latinoamérica Holding, S.L.U. (60.6%) Telefónica Global Solutions, S.L.U. Spain EUR 1 100 % Telefónica, S.A Telefónica USA, Inc. USA USD 202 100 % Telefónica Global Solutions, S.L.U. Telefónica International Wholesale Services México, S.A. Mexico MXN 31 100 % Telefónica Global Solutions, S.L.U. Telefónica Digital España, S.L. Spain EUR 24 100 % Telefónica, S.A Telefónica Digital Ltd. United Kingdom GBP 66 100 % Telefónica Digital España, S.L. Telefonica Open Innovation S.L. Spain EUR 2 100 % Telefónica Digital España, S.L. Wayra Chile Tecnología e Innovación Limitada Chile CLP 29,899 100 % Telefonica Open Innovation S.L. Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda. Brazil BRL 49 100 % Telefonica Open Innovation S.L. WY Telecom, S.A. de C.V. Mexico MXN 173 100 % Telefonica Open Innovation S.L. Wayra Argentina, S.A. Argentina ARS 382 100 % Telefonica Open Innovation S.L. (95%) Wayra Colombia, S.A.S. Colombia COP 2,304 100 % Telefonica Open Innovation S.L. Proyecto Wayra, C.A. Venezuela VES 75,422 100 % Telefónica Venezolana, C.A. Wayra Perú Aceleradora de Proyectos, S.A.C. Peru PEN 28 100 % Telefonica Open Innovation S.L. Wayra UK Ltd. United Kingdom GBP — 100 % Telefonica Open Innovation S.L. Terra Networks Perú, S.A. Peru PEN 10 100 % Telefónica Latinoamérica Holding, S.L.U. Terra Networks Argentina, S.A. Argentina ARS 14 100 % Telefónica Latinoamérica Holding, S.L.U. (99.99%) 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 Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies (Cont.) 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 Telefonica Iot & Big Data Tech S.A. Spain EUR 1 100 % Telefónica Tech S.L. 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 8 100 % Telefónica, 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. Telefónica Luxembourg Holding, S.à.r.L. Luxembourg EUR 3 100 % Telefónica, S.A. Casiopea Reaseguradora, S.A. Luxembourg EUR — 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 24 100 % Telefónica Luxembourg Holding, S.à.r.L. 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%) 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. Aliança Atlântica Holding B.V. Netherlands EUR 150 100 % Telefónica, S.A. (50%) Telefónica Serviços Empresariais do Brasil, Ltda. Brazil BRL 48 99.99 % Telefónica Servicios Globales, S.L.U. Telefónica Gestión Integral de Edificios y Servicios S.L. Spain EUR 29 100 % 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 United Kingdom GBP — 100 % Telefónica, S.A. Telefónica Innovación Alpha, S.L. Spain EUR 1 100 % Telefónica, S.A. Telefónica Servicios Globales, S.L.U. Spain EUR 1 100 % Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies (Cont.) Telefónica Holding Atticus, B.V. Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L.U. Telefónica Soluciones de Criptografía, S.A. Spain EUR — 100 % Telefónica, S.A. Telefónica Centroamérica Inversiones ,S.L. Spain EUR 1 60 % Telefónica, S.A. Telefónica Tech S.L. Spain EUR 5 100 % Telefónica, S.A. Telefónica Cybersecurity & Cloud Tech SL. Spain EUR 8 100 % Telefónica, S.A. Telefónica Cybersecurity & Cloud Tech Chile SpA. Chile CLP 10,001 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefónica Tech Inc. USA USD — 100 % Telefónica Cybersecurity & Cloud Tech SL. Cyberrange S.L. Spain EUR — 100 % Telefónica Cybersecurity & Cloud Tech SL. iHackLabs Ltd. United Kingdom GBP — 100 % Cyberrange S.L. Ace & Niu Consulting S.L. Spain EUR 48 100 % Telefónica Cybersecurity & Cloud Tech SL. Audertis Audit Services S.L. Spain EUR — 100 % Telefónica Cybersecurity & Cloud Tech SL. Govertis Advisory Services S.L. Spain EUR — 100 % Telefónica Cybersecurity & Cloud Tech SL. Govertis Advisory Services Perú S.A.C. Peru PEN — 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefonica Cybersecurity Tech Colombia S.A.S. Colombia COP 406 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefónica Cybersecurity Tech UK Limited United Kingdom GBP — 100 % Telefónica UK Ltd. Telefonica Cybersecurity Tech Mexico, S.A de C.V. Mexico MXN — 100 % Telefónica Cybersecurity & Cloud Tech SL. (99%) Telefônica Cibersegurança e Tecnología do Brasil Ltda Brazil BRL 26 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefónica Cybersecurity & Cloud Tech Perú S.A.C Perú PEN 24 100 % Telefónica Cybersecurity & Cloud Tech SL. (99.99%) Telefonica Cybersecurity Tech Ecuador Tctech S.A. Ecuador USD — 100 % Otecel, S.A. (99%) Telefónica Cybersecurity Tech Argentina S.A. Argentina ARS — 100 % Telefónica de Argentina, S.A. (95%) Telefónica Móviles El Salvador, S.A. de C.V. El Salvador USD 42 59.58 % Telefónica Centroamérica Inversiones S.L. (59.46%) Pontel Participaciones, S.L. Spain EUR — 83.35 % Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies held for sale Telefónica de Costa Rica TC, S.A. Costa Rica CRC 182,522 100 % 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%) Telefónica Factoring Chile, SpA. Chile CLP 547 50 % Telefónica Factoring España, S.A. (50%) Mobile Financial Services Holding SPRL Belgium USD 197 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. United Kingdom GBP — 50 % O2 Communication Ltd. The Smart Steps Data Technology Company China CNY — 37.5 % Telefónica Digital España, S.L. Internet para todos S.A.C Peru PEN — 54.67 % Telefónica del Perú, S.A.A. Prosegur Alarmas España S.L. Spain EUR — 50 % Telefónica de Contenidos, S.A.U Buendía Estudios, S.L. Spain EUR — 50 % Telefónica Audiovisual Digital, S.L.U. UGG TopCo/HoldCo General Partner GmbH. Germany EUR — 46.92 % Telefónica Infra Germany GmbH. (40%) UGG TopCo GmbH & Co KG Germany EUR 10 46.92 % Telefónica Infra Germany GmbH. (40%) UGG HoldCo GmbH& Co KG Germany EUR 4 46.92 % UGG TopCo GmbH & Co KG UGG General Partner GmbH Germany EUR — 46.92 % UGG HoldCo GmbH& Co KG Unsere Grüne Glasfaser GmbH & Co KG Germany EUR 4 46.92 % UGG HoldCo GmbH& Co KG Main changes in the scope of consolidation for the year 2020 Acquisition of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Other companies Telefónica Infra Germany GmbH Germany 10/31/2020 100 % Cyberrange S.L. Spain 08/31/2020 100 % iHackLabs Ltd. United Kingdom 08/31/2020 100 % Ace & Niu Consulting S.L. Spain 08/31/2020 100 % Audertis Audit Services S.L. Spain 08/31/2020 100 % Govertis Advisory Services S.L. Spain 08/31/2020 100 % Govertis Advisory Services Perú S.A.C. Peru 08/31/2020 100 % Companies accounted for using the equity method Prosegur Alarmas España S.L. Spain 02/29/2020 50 % New joint ventures Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition UGG TopCo/HoldCo General Partner GmbH. Germany 10/31/2020 46.92 % UGG TopCo GmbH & Co KG Germany 10/31/2020 46.92 % UGG HoldCo GmbH& Co KG Germany 10/31/2020 46.92 % UGG General Partner GmbH Germany 10/31/2020 46.92 % Unsere Grüne Glasfaser GmbH & Co KG Germany 10/31/2020 46.92 % Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Spain TBSC Barcelona Producciones, S.L.U. Spain 03/31/2020 100 % Buendía Producción, S.L. Spain 06/30/2020 50 % Telefónica Germany Telefónica Germany Mobilfunk Standortgesellschaft mbH. Germany 01/31/2020 100 % Other companies Telefónica Cybersecurity & Cloud Tech Chile SpA. Chile 03/31/2020 100 % Telefónica Cybersecurity Tech UK Limited United Kingdom 03/31/2020 100 % Telefónica Cybersecurity & Cloud Tech Perú S.A.C Peru 03/31/2020 100 % Telefónica Cybersecurity & Cloud Tech SL. Spain 06/30/2020 100 % Telefonica Cybersecurity Tech Mexico, S.A de C.V. Mexico 05/31/2020 100 % Telefonica Cybersecurity Tech Ecuador Tctech S.A. Ecuador 08/31/2020 100 % Telefónica Cybersecurity Tech Argentina S.A. Argentina 12/31/2020 100 % Telefónica Tech Inc. USA 09/30/2020 100 % Telefónica Infra, S.L. Spain 02/29/2020 100 % Telxius Group Inmosites Brasil Participaçoes Imobiliarias Ltda Brazil 09/30/2020 50.01 % Companies accounted for using the equity method Buendía Estudios, S.L. Spain 06/30/2020 50 % Merged companies Companies/Segment/Subsidiaries Country Date Surviving company Telefónica Spain DTS Distribuidora de Televisión Digital, S.A. Spain 06/30/2020 Telefónica de España, S.A.U. Telefónica Germany Minodes GmbH Germany 12/31/2020 Telefónica Germany GmbH & Co. OHG Telxius Group Telxius Towers Erste GmbH. Germany 09/30/2020 Telxius Towers Germany GmbH. Telefónica Hispam Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Colombia 05/31/2020 Colombia Telecomunicaciones, S.A. ESP Metropolitana de Telecomunicaciones S.A E.S.P Colombia 05/31/2020 Colombia Telecomunicaciones, S.A. ESP Other companies Telefónica Innovation Ventures, S.LU. Spain 11/30/2020 Telefonica Open Innovation S.L. Main changes in the scope of consolidation for the year 2019 Acquisition of companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Other companies Telefónica Soluciones de Criptografía, S.A. Spain 02/28/2019 100 % Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Participation Telxius Group Inmosites, S.A.U. Spain 12/31/2019 50.01 % Sold companies Companies/Segment/Subsidiaries Country Date of deconsolidated % Sold Other companies Telefónica Móviles Guatemala, S.A. Guatemala 01/31/2019 60 % Telefonía Celular de Nicaragua, S.A. Nicaragua 05/31/2019 60 % Telefónica Móviles Panamá, S.A. Panama 08/31/2019 60 % Seguros de Vida y Pensiones Antares, S.A. Spain 02/28/2019 100 % Telefónica Gestión Logística, S.A.C Peru 04/30/2019 100 % |
Appendix II_ Board and Senior M
Appendix II: Board and Senior Management Compensation | 12 Months Ended |
Dec. 31, 2020 | |
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 remunera-tion 2 Allowances 3 Short-term variable remuneration 4 Remuneration for belonging to the Board Committees 5 Other items 6 Total Mr. José María Álvarez-Pallete López 1,923,100 — — 3,111,960 — 5,966 5,041,026 Mr. Isidro Fainé Casas — 200,000 — — 80,000 — 280,000 Mr. José María Abril Pérez — 200,000 9,000 — 91,200 — 300,200 Mr. José Javier Echenique Landiríbar — 200,000 25,000 — 115,467 — 340,467 Mr. Ángel Vilá Boix 1,600,000 — — 2,157,600 — 19,440 3,777,040 Mr. Juan Ignacio Cirac Sasturain — 120,000 10,000 — 12,133 — 142,133 Mr. Peter Erskine — 120,000 19,000 — 113,600 — 252,600 Ms. Sabina Fluxà Thienemann — 120,000 4,000 — 3,733 — 127,733 Ms. Carmen García de Andrés — 120,000 24,000 — 22,400 — 166,400 Ms. María Luisa García Blanco — 120,000 22,000 — 22,400 — 164,400 Mr. Jordi Gual Solé — 120,000 20,000 — 22,400 — 162,400 Mr. Peter Löscher — 120,000 30,000 — 39,200 — 189,200 Mr. Ignacio Moreno Martínez — 120,000 35,000 — 44,800 — 199,800 Ms. Verónica Pascual Boé — 120,000 9,000 — 11,200 — 140,200 Mr. Francisco Javier de Paz Mancho — 120,000 31,000 — 124,800 — 275,800 Mr. Francisco José Riberas Mera — 120,000 — — — — 120,000 Ms. Claudia Sender Ramírez — 120,000 10,000 — 11,200 — 141,200 1. Salary: Regarding Mr José María Álvarez-Pallete López and Mr Ángel Vilá Boix, the amount includes the non-variable remuneration earned from their executive functions. 2. Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, subject to consolidation over time or not, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings. 3. Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings. 4. Variable short-term remuneration (bonuses): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) within a period of time equal to or less than a year, corresponding to the year 2020 and paid in the year 2021. In reference to the bonus corresponding to 2019, which was paid in 2020, Executive Board Member Mr José María Álvarez-Pallete López received 3,447,734 euros and Executive Board Member Mr Ángel Vilá Boix received 2,390,400 euros. 5. Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Committee and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. 6. Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telefónica, S.A. The following table breaks down the amounts accrued and/or 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 functions or by their membership to the Board of Directors of such companies: OTHER COMPANIES OF THE TELEFÓNICA GROUP (Amounts in euros) Directors Salary 1 Fixed remunera-tion 2 Allowances 3 Short-term variable remuneration 4 Remuneration for belonging to the Board Committees 5 Other items 6 Total Mr. José María Álvarez-Pallete López — — — — — — — Mr. Isidro Fainé Casas — — — — — — — Mr. José María Abril Pérez — — — — — — — Mr. José Javier Echenique Landiríbar — 158,102 — — — — 158,102 Mr. Ángel Vilá Boix — — — — — — — Mr. Juan Ignacio Cirac Sasturain — — — — — — — Mr. Peter Erskine — 30,000 — — — — 30,000 Ms. Sabina Fluxà Thienemann — — — — — — — Ms Carmen García de Andrés — — — — — — — Ms. María Luisa García Blanco — — — — — — — Mr. Jordi Gual Solé — — — — — — — Mr. Peter Löscher — 73,989 — — — — 73,989 Mr. Ignacio Moreno Martínez — — — — — — — Ms. Verónica Pascual Boé — — — — — — — Mr. Francisco Javier de Paz Mancho — 285,553 — — — — 285,553 Mr. Francisco José Riberas Mera — — — — — — — Ms. Claudia Sender Ramírez — — — — — — — 1. Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telefónica Group for his/her executive functions. 2. Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, subject to consolidation over time or not, earned by the member for his/her position on the boards of other companies of the Telefónica Group. 3. Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telefónica Group. 4. Variable short-term remuneration (bonuses): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) within a period of time equal to or less than a year, corresponding to the year 2020 and paid in the year 2021 by other companies of the Telefónica Group. 5. Remuneration for belonging to the Board Committees of other companies of the Telefónica Group: Amount of items other than allowances, which the directors are beneficiaries through their position on the Advisory or Steering Committees of other companies of the Telefónica Group, regardless of the effective attendance of the board member such Committee meetings. 6. Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by other companies of the Telefónica Group. Additionally, as mentioned in the Remuneration Policy section, the Executive Board Members have a series of Assistance Services. Below, the contributions made during 2020 are detailed for the Company to long-term savings systems (Pension Plans and Social Welfare Plan): LONG-TERM SAVINGS SYSTEMS (Amounts in euros) Directors Contributions for fiscal year 2020 Mr. José María Álvarez-Pallete López 673,085 Mr. Ángel Vilá Boix 560,000 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 Contribution to Pension Plans Contribution to Benefit Plan 1 Contributions to Unit link-type Insurance/Pension Plan Surplus 2 Mr. José María Álvarez-Pallete López 6,060 540,968 126,057 Mr. Ángel Vilá Boix 5,377 487,840 66,783 1. Contributions to the Executive Social Welfare Plan established in 2006, financed exclusively by the Company, to complement the current Pension Plan, which involves defined contributions equivalent to a certain percentage of the fixed remuneration of the Director, depending on the professional levels in the organization of the Telefónica Group. 2. Contributions to Unit link-type Insurance/Pension Plan Surplus: 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 Plus Ultra, Seguros Generales y Vida, S.A. de Seguros y Reaseguros (after the merger through absorption of Seguros de Vida y Pensiones Antares, S.A.U. by Plus Ultra), 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 2020 amounts for life insurance premiums were as follows: LIFE INSURANCE PREMIUMS (Amounts in euros) Directors Life insurance premiums Mr. José María Álvarez-Pallete López 19,978 Mr. Ángel Vilá Boix 21,593 As regards to remuneration plans based on shares (exclusively involving Executive Directors), the following long-term variable remuneration plan was in existence during the year 2020: The so-called "Performance Share Plan" ("PSP"), made up of three cycles (2018-2021; 2019-2022; 2020-2023), approved by the General Shareholders' Meeting held on June 8, 2018. The objective measurement period of the first cycle began on January 1, 2018 and ended on December 31, 2020. This cycle had a maximum of 733,000 shares allocated on January 1, 2018, to the executive Directors, with a unit fair value of 6.4631 euros per share for FCF ("Free Cash Flow") and 4.5160 euros for TSR ("Total Shareholder Return"). At the end of the cycle date, Kepler has submitted the Nominating, Compensation and Good Governance Committee the calculation of TSR for Telefónica, S.A., which has concluded below the median according to the performance scale. Therefore, there is no right to perceive the number of shares linked to the relative TSR objective. With respect to Free Cash Flow objective, considering the partial fulfillment of 2018, 2019 and 2020, the average weighted payment coefficient is 50%. Performance assessment has been carried out based on the results audited both by independent and internal auditors of the Company, analyzed firstly by the Audit and Control Committee and subsequently submitted to the Nominating, Compensation and Corporate Governance Committee and approved by the Board of Directors. Nevertheless, on February 23, 2021, the Chairman & CEO declared in the Nominating, Retribution and Good Governance Committee that they considered appropriate to renounce to this incentive perception as a sign of responsibility with society, customers, shareholders and employees of Telefónica as well as a cautious measure after the economic impacts of the CoVID-19 crisis. The COO made the same declaration. The renounce was accepted by the Board of Directors. The objective measurement period of the second cycle began on January 1, 2019 and will end on December 31, 2021. In case of fulfillment of the objectives, the delivery of the shares will take place in the year 2022. The period of measurement of objectives of the third and last cycle began on January 1, 2020 and will end on December 31, 2022. In case of fulfillment of the objectives, the delivery of the shares will take place in the year 2023 . It is hereby stated in following the maximum number of shares assigned to be delivered if maximum compliance with the TSR ("Total Shareholder Return") and FCF ("Free Cash Flow") targets set for the second and third cycle of the Plan. It is noted that the maximum number of shares allocated for the third cycle represents a 50% decrease in the economic value of the allocation compared to the first and second cycle of the Plan: PSP - Second Cycle / 2019-2022 Directors Maximum number of shares (*) Mr. José María Álvarez-Pallete López 468,000 Mr. Ángel Vilá Boix 347,000 (*) Maximum possible number of shares to be received in case of maximum completion of FCF and TSR target. PSP - Third Cycle / 2020-2023 (shares allocated in July 2020) Directors Maximum number of shares (*) Mr. José María Álvarez-Pallete López 267,000 Mr. Ángel Vilá Boix 198,000 (*) Maximum possible number of shares to be received in case of maximum completion of FCF and TSR target. In any case, herewith it is stated that no shares have been delivered to the Executive Directors under the second and third cycle of the PSP and that the above tables only reflect the potentially deliverable number of shares, without this in any way implying all or part thereof will be effectively delivered. Indeed, the number of Telefónica, S.A. shares that, always within the established maximum, could be delivered, where appropriate, to the participants is conditioned and determined by the established goals: 50% of the compliance with the targets set out for Total Shareholder Return ("TSR") on Telefónica, S.A. shares and 50% of the Free Cash Flow (the "FCF") of the Telefónica Group. To determine compliance with the TSR target and calculate the specific number of shares to be delivered for this concept, the evolution of the TSR of Telefónica, S.A. shares will be measured during the period of the duration of each three-year cycle in relation to the TSR experienced by certain companies belonging to the telecommunications sector, weighted according to their relevance for Telefónica, S.A., which for the purposes of the Plan will constitute the comparison group (hereinafter the "Comparison Group"). The companies included in the comparison group are listed below: América Móvil, BT Group, Deutsche Telekom, Orange, Telecom Italia, Vodafone Group, Proximus, Royal KPN, Millicom, Swisscom, Telenor, TeliaSonera, and Tim Participações. It is hereby stated that Tim Participações has been replaced by TIM Brasil Serviços e Participações S.A. following its integration into that entity. With regard to compliance with the TSR target, the Plan foresees that the number of shares to be delivered in relation to the fulfillment of this objective will range between 15% of the number of theoretical shares assigned, in the event that the evolution of the TSR of the Telefónica, S.A. share is found within, at least, the mean of the Comparison Group, and 50% in the case that the evolution is placed in the third quartile or higher of the comparison group, by calculating the percentage by linear interpolation for cases which are situated between the mean and the third quartile. To determine completion of the FCF target and calculate the specific number of shares to be delivered under this concept, the level of FCF generated by the Telefónica Group during each year of the cycle will be measured against the value set in the budgets approved by the Board of Directors for each financial year. In relation to the FCF, for each cycle, the company's Board of Directors, following a favorable report from the Nominating, Compensation and Corporate Governance Committee, determines a scale of achievement that includes a minimum threshold of 90% compliance, below which an incentive is not paid and whose compliance will require the delivery of 25% of the assigned theoretical shares, and a maximum level of 100% compliance, which will involve the delivery of 50% of the assigned theoretical shares. At least 25% of the shares are delivered under the Plan to the Executive Directors and other participants determined by the Board of Directors shall be subject to a one-year retention. In addition, in order to strengthen Telefónica's character as a global employer, creating a common remuneration culture throughout the Company, encouraging the participation in the share capital of all the Group's employees, and fostering their motivation and loyalty, the Ordinary General Shareholders' Meeting, held on June 8, 2018 approved the launch of a fourth edition of the incentive share purchase plan of Telefónica, S.A. (2019-2021) aimed at all employees of the Group at international level (including management personnel as well as Executive Directors) called "Global Employee Share Plan" ("GESP"). Through this Plan, employees are offered the possibility of acquiring Telefónica, S.A.'s shares for a maximum period of twelve months (purchase period), with the Company's commitment to deliver a certain number of shares free of charge to the participants in the Plan, provided that certain requirements are met. The maximum amount that each employee can allocate to it is 1,800 euros, and the minimum amount is 300 euros. If the employee remains in the Telefónica Group and holds the shares for an additional year after the purchase period (vesting period), he/she is entitled to receive one free share for every two shares purchased and held until the end of the vesting period. The two Executive Directors of Telefónica, S.A. have decided to participate in this Plan with the maximum contribution, that is one hundred and fifty euros per month (or its equivalent in local currency), for twelve months. Thus, at the date of formulation of this report, the two Executive Directors had acquired a total of 335 shares under this plan, and were entitled to receive 167 shares free of charge, provided, among other conditions, that the shares acquired were held during the vesting period (twelve months following the end of the purchase period). In addition, it should be noted that the external directors of the company do not perceive nor have perceived remuneration during the year 2020 in concept of pensions or life insurance, nor do they participate in compensation plans referenced to the value of the share price. Furthermore, the company does not grant nor has granted during the year 2020, an advance, loan or credit in favor of its Board Members or its Senior Management, complying with the requirements of the Sarbanes-Oxley Act published in the United States, which is applicable to Telefónica as a listed company in this market. Remuneration of the Company’s Senior Management As for the Directors who made up the Senior Management 1 of the company in the year 2020, excluding those who form an integral part of the Board of Directors, have accrued a total amount o f 5,904,357 euros during the 2020 fiscal year. In addition, and in terms of long-term savings systems, the contributions made by the Telefónica Group during the year 2020 to the Social Security Plan described in the "Income and expenditure" note with regard to these directors increased to 927,898 euros; the contributions corresponding to the Pension Plan increased to 21,508 euros; the contributions to the Seguro Unit link-Excess Pension Fund increased to 115,744 euros. Furthermore, the amount related to the remuneration in kind (which includes the fees for life insurance and other insurance, such as the general medical and dental coverage, and vehicle insurance) was 83,648 euros. On the other hand, regarding share-based remuneration plans, during the year 2020, there was in force the following long-term variable remuneration plan: The so-called "Performance Share Plan" ("PSP"), made up of three cycles (2018-2021; 2019-2022; 2020-2023), approved by the General Shareholders' Meeting held on June 8, 2018. The period of measurement of objectives of the first cycle began on January 1, 2018 and concluded on December 31, 2020. This cycle had a maximum of 344,570 shares allocated on January 1, 2018 to the group of directors forming part of the company's Senior Management, with a unit fair value of 6.4631 euros per share for FCF and 4.5160 euros for TSR. At the end of the cycle date, Kepler has submitted the Nominating, Compensation and Good Governance Committee the calculation of TSR for Telefónica, S.A., which has concluded below the median according to the performance scale. Therefore, there is no right to perceive the number of shares linked to the relative TSR objective. With respect to Free Cash Flow objective, considering the partial fulfillment of 2018, 2019 and 2020, the average weighted payment coefficient is 50%. Performance assessment has been carried out based on the results audited both by independent and internal auditors of the Company, analyzed firstly by the Audit and Control Committee and subsequently submitted to the Nominating, Compensation and Corporate Governance Committee and approved by the Board of Directors. The measurement period of the second cycle objectives began on January 1, 2019 and will conclude on December 31, 2021. The maximum number of shares assigned to be delivered in 2022 in the event of maximum compliance with the TSR ("Total Shareholder Return") and FCF ("Free Cash Flow") target, set for the second cycle (2019-2022) to the group of Directors part of the Company's Senior Management was 382,291. The measurement period of the third and last cycle objectives began on January 1, 2020 and will conclude on December 31, 2022. The maximum number of shares assigned to be delivered in 2023 in the event of maximum compliance with the TSR ("Total Shareholder Return") and FCF ("Free Cash Flow") target, set for the third cycle (2020-2023) to the group of Directors part of the Company's Senior Management was 242,162. With regard to the Global Employee Share Plan (2019-2021), all Directors part of the Company's Senior Management have decided to participate in this plan with the maximum contribution (i.e. 150 euros per month for twelve months). Thus, at the date of formulation of this report, Directors part of the Company's Senior Management have acquired a total of 1,340 shares under this plan, and are entitled to receive 670 shares free of charge, provided, among other conditions, that the shares acquired are held during the vesting period (twelve months following the end of the purchase period). |
Appendix III_ Debentures and Bo
Appendix III: Debentures and Bonds | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 999 999 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,499 1,499 EMTN O2 GBP GBP 5.375 % — — — — — 557 557 TELEF. EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,630 1,630 TELEF. EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0,83% 55 — — — — — 55 TELEF. EMISIONES MAY 2014 EUR 2.242 % — 1,015 — — — — 1,015 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — 724 — — — — 724 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 445 445 TELEF. EMISIONES FEBRUARY 2011 USD 5.462 % 1,223 — — — — — 1,223 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — 139 — — — — 139 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — 1,500 — — — 1,500 TELEF. EMISIONES MARCH 2013 EUR 3.961 % 872 — — — — — 872 TELEF EMISIONES APRIL 2013 USD 4.570 % — — 611 — — — 611 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0,83% — 67 — — — — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % 759 — — — — — 759 TELEF EMISIONES APRIL 2016 EUR 0.750 % — 1,110 — — — — 1,110 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — 1,250 — 1,250 Total Telefónica and its instrumental companies (cont.) Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,223 1,223 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,630 1,630 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 163 163 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 408 408 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2018 EUR 1.447 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2018 USD 4.895 % — — — — — 1,019 1,019 TELEF. EMISIONES MARCH 2018 USD 4.665 % — — — — — 611 611 TELEF. EMISIONES SEPTEMBER 2018 EUR 1.495 % — — — — 1,000 — 1,000 TELEF. EMISIONES FEBRUARY 2019 GREEN B. EUR 1.069 % — — — 1,000 — — 1,000 TELEF. EMISIONES MARCH 2019 EUR 1.788 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2019 USD 5.520 % — — — — — 1,019 1,019 TELEF. EMISIONES JULY 2019 EUR 1.957 % — — — — — 500 500 TELEF. EMISIONES MAY 2020 EUR 1.201 % — — — — — 1,250 1,250 TELEF. EMISIONES FEBRUARY 2020 EUR 0.664 % — — — — — 1,000 1,000 TELEF. EMISIONES MAY 2020 EUR 1.807 % — — — — — 750 750 TELEF. EMISIONES JULY 2020 EUR 1.864 % — — — — — 500 500 Telefónica Emisiones, S.A.U. 2,909 3,055 2,111 1,000 2,250 19,705 31,030 Exchangeable Bond MARCH 2016 (*) EUR — 600 — — — — — 600 Telefónica Participaciones — 600 — — — — — 600 Total Telefónica, S.A. and its instrumental companies 3,509 3,055 2,111 1,000 2,250 21,204 33,129 (*) 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 2021 2022 2023 2024 2025 Subsequent years Total Bond T CLP 4.900 % 22 — 22 — — — 44 144A Bond USD 3.875 % — 408 — — — — 408 Telefónica Chile, S.A. 22 408 22 — — — 452 Bond F UF 3.600 % — — 100 — — — 100 Bond O CLP 3.500 % — — — — 80 — 80 Bond K CLP 4.900 % 108 — — — — — 108 Telefónica Móviles Chile, S.A. 108 — 100 — 80 — 288 Foreign operators (cont.) Maturity Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3,625% — — — — — 20 20 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2,875% — — — — — 16 16 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3,125% — — — — — 15 15 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3,1875% — — — — — 6 6 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3,500% 7 — — — — — 7 Bond T. Peru 6th Program (17th Serie A) N. SOL VAC + 3,09375% — — — — — 14 14 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — 59 — — — 59 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.188 % — — — 27 — — 27 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — 32 — — — — 32 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.344 % — 23 — — — — 23 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.469 % — — — 30 — — 30 Bond T. Peru 6th Program (16th Serie A) N. SOL 5.500 % — — — — 24 — 24 Bond T. Peru 6th Program (12th Serie B) N. SOL 4.188 % 16 — — — — — 16 Bond T. Peru 1st Private Program (1st Serie A) N. SOL 7.281 % — — — — — 18 18 Bond T. Peru 1st Program International Issue (1sr Serie A) N. SOL 7.375 % — — — — 128 255 383 Telefónica del Perú, S.A. 23 55 59 57 152 344 690 Nonconvertible bonds BRL 1,0825 XCDI 157 157 — — — — 314 Nonconvertible bonds (Telemig) I BRL IPCA + 0,5% — — — — — — — Nonconvertible bonds (Telemig) II BRL IPCA + 0,5% 1 — — — — — 1 Nonconvertible bonds (Telemig) III BRL IPCA + 0,5% 1 — — — — — 1 Telefônica Brasil, S.A. 159 157 — — — — 316 BOND R144-A USD 4.950 % — — — — — 408 408 Bond A5 COP 6.650 % — — — 83 — — 83 Bond C10 COP IPC + 3,39% — — — — — 36 36 Colombia Telecomunicaciones, S.A, ESP — — — 83 — 444 527 Bond EUR 2.375 % 500 — — — — — 500 Bond EUR 1.750 % — — — — 600 — 600 O2 Telefónica Deutschland Finanzierungs, GmbH 500 — — — 600 — 1,100 Total Outstanding Debentures and Bonds Foreign operators 812 620 181 140 832 788 3,373 Total Outstanding Debentures and Bonds 4,321 3,675 2,292 1,140 3,082 21,992 36,502 The main debentures and bonds issued by the Group in 2020 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 02/03/2020 02/03/2030 1,000 1,000 EUR 0.664 % EMTN Bond 05/21/2020 08/21/2027 1,250 1,250 EUR 1.201 % EMTN Bond 05/21/2020 05/21/2032 750 750 EUR 1.807 % EMTN Bond 07/13/2020 07/13/2040 500 500 EUR 1.864 % Colombia Telecomunicaciones S.A E.S.P. Bond 07/17/2020 07/17/2030 500 408 USD 4.950 % Appendix V: Interest-bearing debt The main financing transactions at December 31, 2020 and 2019 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2020 12/31/2019 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 18 USD 15 53 05/03/2011 07/30/2021 Structured Financing (*) 199 USD 162 282 02/22/2013 01/31/2023 Structured Financing (*) 187 USD 152 243 08/01/2013 10/31/2023 Structured Financing (*) 414 USD 338 448 12/11/2015 03/11/2026 Structured Financing (*) 281 EUR 281 341 12/11/2015 03/11/2026 Credit 100 GBP 111 117 05/23/2013 03/01/2023 Bilateral credit (1) 135 EUR — — 05/14/2019 05/14/2024 Bilateral loan — EUR 200 200 07/11/2019 08/14/2026 Bilateral loan — EUR 150 — 11/08/2019 03/12/2030 Bilateral loan — EUR 200 — 12/04/2019 05/06/2027 Syndicated 5,500 EUR — — 03/15/2018 03/15/2025 Bilateral loan (2) 200 EUR — — 12/18/2020 06/18/2024 Telefónica Germany GmbH & Co. OHG EIB Financing — EUR 333 408 06/13/2016 06/13/2025 Syndicated (3) 750 EUR — — 12/17/2019 12/17/2024 EIB Financing (Tranche 1) 300 EUR — — 12/18/2019 06/18/2029 EIB Financing (Tranche 2) 150 EUR — — 01/14/2020 07/14/2029 Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 — 02/25/2020 03/24/2025 Syndicated (4) — USD 204 — 03/18/2020 03/18/2025 Telxius Telecom, S.A. Syndicated 103 EUR 197 300 12/01/2017 12/01/2024 Bilateral loan — EUR 150 150 11/29/2019 11/29/2021 Telefónica Móviles Chile, S.A. Bilateral loan (5) — USD 114 — 04/17/2020 09/29/2023 T. UK Limited Syndicated (6) — GBP — — 05/07/2020 09/29/2020 (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) The financing matures in 2024, with two annual extension options at the request of Telefónica Germany GmbH & Co. OHG, for a maximum maturity in 2026. (4) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 millions to USD 250 millions. (5) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (6) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six-months extension options at T. UK Limited request with a maturity up to 2022. |
Appendix IV_ Financial Instrume
Appendix IV: Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Appendix IV: Financial Instruments [Abstract] | |
Appendix IV: Financial Instruments | Breakdown of financial assets The breakdown of financial assets of the Telefónica Group at December 31, 2020 is as follows: December 31, 2020 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 750 — 157 424 2,958 359 3,930 — 2,350 6,639 6,639 Investments 33 — — 424 — 350 107 — — 457 457 Credits and other financial assets 9 — — — — 9 — — 430 439 439 Deposits and guarantees — — — — — — — — 1,633 1,633 1,633 Derivative instruments 708 — — — 2,958 — 3,666 — — 3,666 3,666 Trade receivables — — 157 — — — 157 — 394 551 429 Trade receivables for subleases — — — — — — — — 15 15 15 Impairment of trade receivables — — — — — — — — (122) (122) — Current financial assets 524 — 588 — 827 130 1,809 — 12,380 14,319 14,319 Trade receivables (Note 14) 1 — 587 — — — 588 — 8,181 8,769 6,220 Impairment of trade receivables (Note 14) — — — — — — — — (2,549) (2,549) — Other financial assets (Note 15) 523 — 1 — 827 130 1,221 — 1,144 2,495 2,495 Cash and cash equivalents — — — — — — — — 5,604 5,604 5,604 Total 1,274 — 745 424 3,785 489 5,739 — 14,730 20,958 20,958 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 breakdown of financial assets of the Telefónica Group at December 31, 2019 was as follows: December 31, 2019 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 757 — 104 565 2,676 511 3,591 — 2,290 6,392 6,392 Investments 35 — — 565 — 496 104 — — 600 600 Credits and other financial assets 9 — — — — 9 — — 532 541 541 Deposits and guarantees — — — — — — — — 1,285 1,285 1,285 Derivative instruments 713 — — — 2,676 6 3,383 — — 3,389 3,389 Trade receivables — — 104 — — — 104 — 615 719 565 Trade receivables for subleases — — — — — — — — 12 12 12 Impairment of trade receivables — — — — — — — — (154) (154) — Current financial assets 960 — 567 — 1,104 317 2,314 — 15,286 17,917 17,917 Trade receivables (Note 14) 480 — 567 — — — 1,047 — 10,503 11,550 8,752 Impairment of trade receivables (Note 14) — — — — — — — — (2,798) (2,798) — Other current financial assets (Note 15) 480 — — — 1,104 317 1,267 — 1,539 3,123 3,123 Cash and cash equivalents — — — — — — — — 6,042 6,042 6,042 Total 1,717 — 671 565 3,780 828 5,905 — 17,576 24,309 24,309 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, 2020 is as follows: Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Euro (9,466) 3,483 3,140 2,163 3,705 23,361 26,386 19,088 7,089 26,177 Floating rate 6,490 870 2,048 794 565 4,247 15,014 518 14,794 15,312 Spread (0.09 %) (0.04 %) 0.12 % 0.20 % 0.15 % (0.03 %) (0.02 %) — — — Fixed rate (15,956) 2,613 1,092 1,369 3,140 19,114 11,372 18,570 (7,705) 10,865 Interest rate (0.33 %) 1.34 % 2.82 % 1.82 % 1.71 % 1.60 % 4.43 % — — — Rate cap — — — — — — — — — — Other european currencies Instruments in CZK (65) — — — — — (65) — (65) (65) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (65) — — — — — (65) — (65) (65) Interest rate (0.25 %) — — — — — (0.25 %) — — — Rate cap — — — — — — — — — — Instruments in GBP 6,874 143 56 — — 557 7,630 1,590 6,740 8,330 Floating rate (1) 334 — — — — 333 (1) 335 334 Spread — — — — — — — — — — Fixed rate 6,875 (247) — — — 557 7,185 1,480 6,405 7,885 Interest rate (0.18 %) (1.97 %) — — — 5.38 % 0.31 % — — — Rate cap — 56 56 — — — 112 111 — 111 Instruments in CHF — — — — — — — 151 (150) 1 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 151 (150) 1 Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — America Instruments in USD (649) (16) (1) 122 (29) 409 (164) 18,790 (18,911) (121) Floating rate (1,622) 12 — 122 (29) 408 (1,109) 814 (2,324) (1,510) Spread (0.05 %) 3.50 % — 0.67 % (23.41 %) — (0.79 %) — — — Fixed rate 973 (28) (1) — — 1 945 17,976 (16,587) 1,389 Interest rate 2.47 % (34.45 %) (2,670.83 %) — — — 5.37 % — — — Rate cap — — — — — — — — — — Instruments in UYU 5 — — — — — 5 (4) 9 5 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 5 — — — — — 5 (4) 9 5 Interest rate 11.18 % — — — — — 11.18 % — — — Rate cap — — — — — — — — — — Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Instruments in ARS (122) 7 — — — — (115) (114) — (114) Floating rate — (1) — — — — (1) (1) — (1) Spread — — — — — — — — — — Fixed rate (122) 8 — — — — (114) (113) — (113) Interest rate 23.94 % 49.43 % — — — — 22.21 % — — — Rate cap — — — — — — — — — — Instruments in BRL 1,885 229 — — 45 13 2,172 (496) 2,675 2,179 Floating rate (813) 132 — — — 14 (667) (692) 32 (660) Spread — — — — — — — — — — Fixed rate 2,698 97 — — 45 (1) 2,839 196 2,643 2,839 Interest rate 1.48 % 2.59 % — — — 1.86 % 1.49 % — — — Rate cap — — — — — — — — — — Instruments in CLP 269 323 294 34 80 (3) 997 (194) 1,208 1,014 Floating rate — 261 3 — — — 264 (3) 268 265 Spread — (0.85 %) 57.81 % — — — (0.24 %) — — — Fixed rate 269 62 291 34 80 (3) 733 (191) 940 749 Interest rate 4.09 % 0.20 % 2.18 % 1.90 % 3.20 % (0.01 %) 2.82 % — — — Rate cap — — — — — — — — — — Instruments in UFC — — — — — — — 100 (112) (12) Floating rate — — — — — — — 100 (112) (12) Spread — — — — — — — — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in PEN 24 80 59 57 151 273 644 441 208 649 Floating rate — 7 — — — — 7 7 — 7 Spread — — — — — — — — — — Fixed rate 24 73 59 57 151 273 637 434 208 642 Interest rate 13.80 % 4.26 % 6.66 % 5.81 % 7.08 % 7.37 % 6.98 % — — — Rate cap — — — — — — — — — — Instruments in VAC 7 — — — — 71 78 79 — 79 Floating rate 7 — — — — 71 78 79 — 79 Spread 3.50 % — — — — 3.21 % 3.24 % — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in COP 407 46 — 83 661 36 1,233 (25) 1,264 1,239 Floating rate — — — — 447 — 447 250 465 715 Spread — — — — 2.02 % — 2.02 % — — — Fixed rate 407 46 — 83 214 36 786 (275) 799 524 Interest rate 5.08 % 2.67 % — 6.65 % 3.54 % 8.09 % 4.82 % — — — Rate cap — — — — — — — — — — Instruments in VEB (4) 1 — — — — (3) (3) — (3) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (4) 1 — — — — (3) (3) — (3) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Instruments in MXN 65 17 — — — — 82 (72) 153 81 Floating rate 8 1 — — — — 9 9 — 9 Spread (2.73 %) 0.11 % — — — — (2.35 %) — — — Fixed rate 57 16 — — — — 73 (81) 153 72 Interest rate 4.37 % 4.59 % — — — — 4.45 % — — — Rate cap — — — — — — — — — — Asia Instruments in JPY — — — — — — — 116 (121) (5) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 116 (121) (5) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — TOTAL 38,880 39,447 (13) 39,434 Floating rate 14,375 1,080 13,458 14,538 Fixed rate 24,393 38,256 (13,506) 24,750 Rate cap 112 111 — 111 Currency Options and Others (*) — — 35 35 (*) 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, 2020: Interest rate swaps Millions of euros Maturity Non trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value EUR (388) Fixed to fix — — — — — — — 1 Receiving leg (100) (75) — — — — (175) (126) Average Interest Rate — — — — — — — — Paying leg 100 75 — — — — 175 127 Average Interest Rate 1.18 % 0.55 % — — — — 0.91 % — Fixed to floating — — — — — — — (622) Receiving leg (6,120) (3,718) (2,974) (2,093) (1,665) (5,065) (21,635) (13,045) Average Interest Rate 1.71 % 1.02 % 1.50 % 0.80 % 0.59 % 0.52 % 1.11 % — Paying leg 6,120 3,718 2,974 2,093 1,665 5,065 21,635 12,423 Average Spread 0.60 % 1.06 % 0.46 % 0.24 % 0.32 % 0.05 % 0.47 % — Floating to fixed — — — — — — — 233 Receiving leg (220) (359) (1,997) (470) (50) (2,122) (5,218) (5,210) Average Spread 2.75 % — — — — 0.11 % 0.16 % — Paying leg 220 359 1,997 470 50 2,122 5,218 5,443 Average Interest Rate 0.14 % 1.30 % 1.02 % 1.26 % 0.65 % 0.37 % 0.76 % — USD (5) Fixed to floating — — — — — — — (24) Receiving leg (277) (522) (277) (139) — — (1,215) (407) Average Interest Rate 1.61 % 1.73 % 1.74 % 3.55 % — — 1.91 % — Paying leg 277 522 277 139 — — 1,215 383 Average Spread 1.68 % 0.92 % 1.77 % — — — 1.18 % — Floating to fixed — — — — — — — 19 Receiving leg — (245) — (139) — — (384) (383) Average Spread — — — — — — — — Paying leg — 245 — 139 — — 384 402 Average Interest Rate — 1.93 % — 2.52 % — — 2.14 % — Interest rate swaps Millions of euros Maturity Trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value EUR 2,221 Fixed to floating — — — — — — — (162) Receiving leg (1,500) (250) (1,500) — (125) (425) (3,800) (3,957) Average Interest Rate 1.29 % 1.20 % 1.54 % — 0.32 % 0.70 % 0.78 % — Paying leg 1,500 250 1,500 — 125 425 3,800 3,795 Average Spread — — — — — — — — Floating to fixed — — — — — — — 2,383 Receiving leg (522) (192) — (700) (1,054) (9,282) (11,750) (11,358) Average Spread — — — — 0.15 % — 0.01 % — Paying leg 522 192 — 700 1,054 9,282 11,750 13,741 Average Interest Rate 2.75 % 0.12 % — 2.30 % 0.54 % 1.09 % 1.17 % — USD (2,939) Fixed to floating — — — — — — — (2,939) Receiving leg (1,475) (596) (715) (72) (368) (9,118) (12,344) (14,567) Average Interest Rate 3.44 % 1.74 % 1.85 % 2.36 % 1.30 % 3.12 % 2.96 % — Paying leg 1,475 596 715 72 368 9,118 12,344 11,628 Average Spread — — — — 1.03 % — 0.03 % — GBP (193) Fixed to floating — — — — — — — (193) Receiving leg — (891) — — — (445) (1,336) (1,523) Average Interest Rate — 3.67 % — — — 3.42 % 3.58 % — Paying leg — 891 — — — 445 1,336 1,330 Average Spread — — — — — — — — Millions of euros Maturity Trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value CLP 5 Fixed to floating — — — — — — — (1) Receiving leg (3) (3) (3) — — — (9) (9) Average Interest Rate 4.90 % 4.90 % 4.90 % — — — 4.90 % — Paying leg 3 3 3 — — — 9 8 Average Spread 1.27 % 1.27 % 1.27 % — — — 1.27 % — Floating to fixed — — — — — — — 6 Receiving leg (114) (17) (133) — — — (264) (264) Average Spread — — — — — — — — Paying leg 114 17 133 — — — 264 270 Average Interest Rate 3.26 % 0.69 % 1.54 % — — — 2.22 % — CHF (4) Fixed to floating — — — — — — — (4) Receiving leg — (139) — — — — (139) (143) Average Interest Rate — 0.75 % — — — — 0.75 % — Paying leg — 139 — — — — 139 139 Average Spread — — — — — — — — COP 9 Floating to fixed — — — — — — — 9 Receiving leg — — — — (214) (36) (250) — Average Spread — — — — — 3.39 % 0.49 % — Paying leg — — — — 214 36 250 9 Average Interest Rate — — — — 3.54 % 8.09 % 4.20 % — Exchange rate options Maturities Millions of euros 2021 2022 2023 2024 2025 Subsequent years Put Currencies (USDBRL, BRLUSD) Notional amount of options bought 1,104 — — — — — Strike 5.11 — — — — — Notional amount of options sold 943 — — — — — Strike 5.03 — — — — — Put Currencies (EURGBP, GBPEUR) Notional amount of options bought 1,667 — — — — — Strike 0.75 — — — — — Notional amount of options sold 1,515 — — — — — Strike 0.83 — — — — — Call Currencies (EURGBP, GBPEUR) Notional amount of options bought 1,384 — — — — — Strike 0.90 — — — — — Notional amount of options sold 1,250 — — — — — Strike 1.00 — — — — — Interest rate options, by maturity, are as follows: Interest rate options Maturities Millions of euros 2021 2022 2023 2024 2025 Subsequent years Collars Notional amount of options bought — 835 — — — — Strike Cap — 4.92 — — — — Strike Floor — 4.15 — — — — Caps Notional amount of options bought — — — — — — Strike — — — — — — Notional amount of options sold — 835 — — — — Strike — 5.53 — — — — Floors Notional amount of options bought — 835 — — — — 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 2021 2022 2023 2024 2025 Subsequent years Total Currency swaps Receive BRL 7 — — — — — 7 Pay BRL (223) — — — — — (223) Receive CLP 40 275 80 — — — 395 Pay CLP (114) (551) (351) — — — (1,016) Receive COP — — — — — — — Pay COP — — — — (447) — (447) Receive EUR 909 — — — — — 909 Pay EUR (3,144) (875) (668) (80) (46) (10,101) (14,914) Receive GBP — 557 — — — 445 1,002 Pay GBP — — — — — — — Receive JPY — — — — — 119 119 Pay JPY — — — — — — — Receive MXN 25 25 25 25 25 117 242 Pay MXN (25) (25) (25) (25) (25) (117) (242) Receive PEN — — — — — — — Pay PEN — — — — 1 — 1 Receive UFC — — 200 — — — 200 Pay UFC — — (100) — — — (100) Receive USD 3,253 1,003 885 72 450 8,710 14,373 Pay USD (638) (408) — — (1) — (1,047) Receive UDI 37 37 37 37 37 170 355 Pay UDI (37) (37) (37) (37) (37) (170) (355) Receive CHF — 139 — — — — 139 Pay CHF — — — — — — — TOTAL 90 140 46 (8) (43) (827) (602) (*) The largest volume of cash flows collected in this table falls into the following currency pairs. The average exchange rates to which the settlements have been closed are: EUR/GBP (0.81), EUR/USD (1.15), USD/COP (3,729.46) and EUR/CHF (1.20). Millions of euros 2021 2022 2023 2024 2025 Subsequent years Total Forwards Receive BRL 149 — — — — — 149 Pay BRL (2,610) — — — — — (2,610) Receive CLP 1 — — — — — 1 Pay CLP (554) (26) — — — — (580) Receive COP 412 — — — — — 412 Pay COP (993) (15) — — — — (1,008) Receive CZK 65 — — — — — 65 Pay CZK — — — — — — — Receive EUR 14,223 — — — — — 14,223 Pay EUR (1,229) — — — — — (1,229) Receive GBP 528 — — — — — 528 Pay GBP (8,521) — — — — — (8,521) Receive MXN — — — — — — — Pay MXN (151) (3) — — — — (154) Receive PEN 14 — — — — — 14 Pay PEN (223) — — — — — (223) Receive USD 2,563 41 1 — — — 2,605 Pay USD (3,799) — — — — — (3,799) Receive UYU — — — — — — — Pay UYU (9) — — — — — (9) TOTAL (134) (3) 1 — — — (136) (*) The largest volume of cash flows collected in this table falls into the following currency pairs. The average exchange rates to which the settlements have been closed are: EUR/GBP (0.91), EUR/USD (1.20), USD/COP (3,739.23) and EUR/BRL (6.44). |
Appendix V_ Interest-Bearing De
Appendix V: Interest-Bearing Debt | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 999 999 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,499 1,499 EMTN O2 GBP GBP 5.375 % — — — — — 557 557 TELEF. EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,630 1,630 TELEF. EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0,83% 55 — — — — — 55 TELEF. EMISIONES MAY 2014 EUR 2.242 % — 1,015 — — — — 1,015 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — 724 — — — — 724 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 445 445 TELEF. EMISIONES FEBRUARY 2011 USD 5.462 % 1,223 — — — — — 1,223 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — 139 — — — — 139 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — 1,500 — — — 1,500 TELEF. EMISIONES MARCH 2013 EUR 3.961 % 872 — — — — — 872 TELEF EMISIONES APRIL 2013 USD 4.570 % — — 611 — — — 611 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0,83% — 67 — — — — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % 759 — — — — — 759 TELEF EMISIONES APRIL 2016 EUR 0.750 % — 1,110 — — — — 1,110 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — 1,250 — 1,250 Total Telefónica and its instrumental companies (cont.) Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,223 1,223 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,630 1,630 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 163 163 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 408 408 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2018 EUR 1.447 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2018 USD 4.895 % — — — — — 1,019 1,019 TELEF. EMISIONES MARCH 2018 USD 4.665 % — — — — — 611 611 TELEF. EMISIONES SEPTEMBER 2018 EUR 1.495 % — — — — 1,000 — 1,000 TELEF. EMISIONES FEBRUARY 2019 GREEN B. EUR 1.069 % — — — 1,000 — — 1,000 TELEF. EMISIONES MARCH 2019 EUR 1.788 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2019 USD 5.520 % — — — — — 1,019 1,019 TELEF. EMISIONES JULY 2019 EUR 1.957 % — — — — — 500 500 TELEF. EMISIONES MAY 2020 EUR 1.201 % — — — — — 1,250 1,250 TELEF. EMISIONES FEBRUARY 2020 EUR 0.664 % — — — — — 1,000 1,000 TELEF. EMISIONES MAY 2020 EUR 1.807 % — — — — — 750 750 TELEF. EMISIONES JULY 2020 EUR 1.864 % — — — — — 500 500 Telefónica Emisiones, S.A.U. 2,909 3,055 2,111 1,000 2,250 19,705 31,030 Exchangeable Bond MARCH 2016 (*) EUR — 600 — — — — — 600 Telefónica Participaciones — 600 — — — — — 600 Total Telefónica, S.A. and its instrumental companies 3,509 3,055 2,111 1,000 2,250 21,204 33,129 (*) 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 2021 2022 2023 2024 2025 Subsequent years Total Bond T CLP 4.900 % 22 — 22 — — — 44 144A Bond USD 3.875 % — 408 — — — — 408 Telefónica Chile, S.A. 22 408 22 — — — 452 Bond F UF 3.600 % — — 100 — — — 100 Bond O CLP 3.500 % — — — — 80 — 80 Bond K CLP 4.900 % 108 — — — — — 108 Telefónica Móviles Chile, S.A. 108 — 100 — 80 — 288 Foreign operators (cont.) Maturity Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3,625% — — — — — 20 20 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2,875% — — — — — 16 16 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3,125% — — — — — 15 15 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3,1875% — — — — — 6 6 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3,500% 7 — — — — — 7 Bond T. Peru 6th Program (17th Serie A) N. SOL VAC + 3,09375% — — — — — 14 14 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — 59 — — — 59 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.188 % — — — 27 — — 27 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — 32 — — — — 32 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.344 % — 23 — — — — 23 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.469 % — — — 30 — — 30 Bond T. Peru 6th Program (16th Serie A) N. SOL 5.500 % — — — — 24 — 24 Bond T. Peru 6th Program (12th Serie B) N. SOL 4.188 % 16 — — — — — 16 Bond T. Peru 1st Private Program (1st Serie A) N. SOL 7.281 % — — — — — 18 18 Bond T. Peru 1st Program International Issue (1sr Serie A) N. SOL 7.375 % — — — — 128 255 383 Telefónica del Perú, S.A. 23 55 59 57 152 344 690 Nonconvertible bonds BRL 1,0825 XCDI 157 157 — — — — 314 Nonconvertible bonds (Telemig) I BRL IPCA + 0,5% — — — — — — — Nonconvertible bonds (Telemig) II BRL IPCA + 0,5% 1 — — — — — 1 Nonconvertible bonds (Telemig) III BRL IPCA + 0,5% 1 — — — — — 1 Telefônica Brasil, S.A. 159 157 — — — — 316 BOND R144-A USD 4.950 % — — — — — 408 408 Bond A5 COP 6.650 % — — — 83 — — 83 Bond C10 COP IPC + 3,39% — — — — — 36 36 Colombia Telecomunicaciones, S.A, ESP — — — 83 — 444 527 Bond EUR 2.375 % 500 — — — — — 500 Bond EUR 1.750 % — — — — 600 — 600 O2 Telefónica Deutschland Finanzierungs, GmbH 500 — — — 600 — 1,100 Total Outstanding Debentures and Bonds Foreign operators 812 620 181 140 832 788 3,373 Total Outstanding Debentures and Bonds 4,321 3,675 2,292 1,140 3,082 21,992 36,502 The main debentures and bonds issued by the Group in 2020 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 02/03/2020 02/03/2030 1,000 1,000 EUR 0.664 % EMTN Bond 05/21/2020 08/21/2027 1,250 1,250 EUR 1.201 % EMTN Bond 05/21/2020 05/21/2032 750 750 EUR 1.807 % EMTN Bond 07/13/2020 07/13/2040 500 500 EUR 1.864 % Colombia Telecomunicaciones S.A E.S.P. Bond 07/17/2020 07/17/2030 500 408 USD 4.950 % Appendix V: Interest-bearing debt The main financing transactions at December 31, 2020 and 2019 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2020 12/31/2019 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 18 USD 15 53 05/03/2011 07/30/2021 Structured Financing (*) 199 USD 162 282 02/22/2013 01/31/2023 Structured Financing (*) 187 USD 152 243 08/01/2013 10/31/2023 Structured Financing (*) 414 USD 338 448 12/11/2015 03/11/2026 Structured Financing (*) 281 EUR 281 341 12/11/2015 03/11/2026 Credit 100 GBP 111 117 05/23/2013 03/01/2023 Bilateral credit (1) 135 EUR — — 05/14/2019 05/14/2024 Bilateral loan — EUR 200 200 07/11/2019 08/14/2026 Bilateral loan — EUR 150 — 11/08/2019 03/12/2030 Bilateral loan — EUR 200 — 12/04/2019 05/06/2027 Syndicated 5,500 EUR — — 03/15/2018 03/15/2025 Bilateral loan (2) 200 EUR — — 12/18/2020 06/18/2024 Telefónica Germany GmbH & Co. OHG EIB Financing — EUR 333 408 06/13/2016 06/13/2025 Syndicated (3) 750 EUR — — 12/17/2019 12/17/2024 EIB Financing (Tranche 1) 300 EUR — — 12/18/2019 06/18/2029 EIB Financing (Tranche 2) 150 EUR — — 01/14/2020 07/14/2029 Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 — 02/25/2020 03/24/2025 Syndicated (4) — USD 204 — 03/18/2020 03/18/2025 Telxius Telecom, S.A. Syndicated 103 EUR 197 300 12/01/2017 12/01/2024 Bilateral loan — EUR 150 150 11/29/2019 11/29/2021 Telefónica Móviles Chile, S.A. Bilateral loan (5) — USD 114 — 04/17/2020 09/29/2023 T. UK Limited Syndicated (6) — GBP — — 05/07/2020 09/29/2020 (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) The financing matures in 2024, with two annual extension options at the request of Telefónica Germany GmbH & Co. OHG, for a maximum maturity in 2026. (4) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 millions to USD 250 millions. (5) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (6) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six-months extension options at T. UK Limited request with a maturity up to 2022. |
Appendix VI_ Key Regulatory Iss
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group | 12 Months Ended |
Dec. 31, 2020 | |
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. Regulation on COVID-19 As a result of COVID 19, in the most relevant jurisdictions where Telefónica operates, governments, during year 2020, have imposed different temporary measures on telecommunications operators, aimed at protecting the most vulnerable consumers. These measures ceased to apply in some countries at the beginning of the year 2021 (this is the case of Spain, Ecuador, Argentina and Peru). Amongst the measures adopted and still applicable, are: In Colombia, a ban on debt service suspension and payment fractionation and deferment of payment without surcharges. Also, in Colombia the government imposed the obligation to allow users 200 SMS for free and allow free browsing in 20 URLs defined by the government and imposed an obligation to publish some indicators related to the service quality until February 28, 2021. In Brazil, an obligation was imposed to send text messages (SMS) on the care needed for the prevention of this disease to the user base. In Germany, tracking application is free of charge, with no data consumption involved. Furthermore, in several jurisdictions of the Telefónica Group, our operators agreed voluntarily with the Government to offer a package of minimum connectivity services at a reduced or free price, together with free access to specific platforms (i.e. health, emergencies, education, information). In Chile this voluntary agreement finished on December 2020. On the other hand, and in order to facilitate for operators to provide telecommunications services during the pandemic, in Peru, Brazil and Colombia, the government adopted measures making it easier to comply with quality regulatory obligations. Colombia also issued flexibilization measures regarding the user’s protection regime, allowing the digitalization of the interactions, claims and complaints. Peru and Argentina made the regulatory framework for infrastructure deployment more flexible. In addition, Peru established the possibility of temporarily assigning spectrum at no cost. In this context, and at Telefónica's request, the Ministry of Transport and Communications (MTC) assigned 20 MHz on the 2.5 GHz band in 50 districts of Lima for 6 months, renewable for the same period and 60 MHz on the AWS-3 Band in 8 districts for 109 days. In Spain, the spectrum auction in the 700 MHz band has been delayed, and in Germany, the Federal Government has agreed to reduce VAT from 19% to 16%. Electronic Communication Regulation in the European Union By Directive (EU) 2018/1972, of December 11, 2018, the European Code of Electronic Communications (EECC in its acronym in English) was approved by the European Parliament and the Council. The Member States had a period of two years (until December 21, 2020) to transpose said Directive into their national legislation. The Code includes measures to stimulate investment on very high capacity network (VHCN), modernization of the provisions of the Universal Service and certain changes in the regulation of services with the aim of balancing the supply conditions (Level Playing Field) between telecom operators and OTTs. In addition, some improvements are included for the coordination of spectrum management processes throughout the EU as well as a harmonization of licenses duration up to 20 years. In general, different provisions included in the new Code are so extensive and complex that its final impact will highly depend on the interpretation that National Regulatory Authorities made in each Member State. The EECC will continue to oblige National Regulatory Authorities to analyze telecommunications markets and determine whether any operators dominate the market. Such operators will continue to be designated as having significant market power (SMP) and face regulatory obligations in that territory. In the case of fiber networks, such SMP obligations could be relaxed if co-investment agreements bear fruit among other network operators. Recently, the EC approved its Relevant Market Recommendation (RMR) updating and reviewing the 2014 Recommendation, reducing the total amount of markets susceptible of ex-ante regulation from 4 to 2: wholesale local access provided at a fixed location market (previous market 3a) and wholesale dedicated capacity market (previous market 4). Nevertheless, NRAs are still able to analyze any other market that according to national circumstances might deemed to be uncompetitive. In relation to the establishment of a maximum limit at European level for both fixed and mobile termination rates (FTRs/MTRs), it is worth mentioning that their drop in recent years has been so important that future decreases are estimated to have a much modest impact on incomes that they had in the past. On December 18, 2020, EC adopted the Delegated Act establishing the glide path for mobile termination rates towards 0,2 euro cents per minute by 2024 and to 0,07 euro cents per minute in the case of fixed rates. Delegated Act is directly applicable in all Member States and will come into force by mid of first quarter of 2021, after the Parliament and Council’s approval. The European Council has approved the Recovery and Resilience Mechanism (RRM), with European funds of 750 billion euros until 2025 as a central pillar of the European Digital Transformation (>20% of funds) initiatives which can receive support to advance connectivity and the digitalization of society. 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. On June 9, 2017, an agreement between the Parliament and the Council approving maximum wholesale caps was published. These caps are effective from June 15, 2017 for roaming services with the following currents limits that remain in force until June 30, 2022: i) 0.01 euros per SMS; ii) 0.032 euros per minute; iii) data service glide path: 4.5 euros per GB (2019); 3.5 euros per GB (2020); 3 euros per GB (2021) and 2.5 euros per GB (2022). A review of the roaming market is expected during the first quarter of 2021. • 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. Digital Single Market Among the most relevant regulatory initiatives we can find the following: • Content Package: • On November 28, 2018, the audiovisual Directive (AVMS) was published in the Official Journal of the European Union. The text came into force on December 19, and must be transposed into national law in the EU member States within 21 months (by September 19, 2020). In Spain, the Government published on November 11, 2020 the Draft General Law on Audiovisual Communication for the transposition of the Directive on Audiovisual Media Services (AVMSD) and opened a consultation and allegations period that ended last December 3. In Germany, the transposition of the AVMSD was specified in the Interstate Media Treaty, which entered into force on November 7, 2020. Finally, the United Kingdom adopted the AVMS Regulation on September 30, 2020, which was applicable until the formalization of the UK’s exit from the UE. The European Commission announced on November 24, 2020 the opening of a sanctioning procedure against Spain and more than twenty States (which also included Germany and the UK) for their delay in transposing the Directive into national legislation. Among the main novelties of the regulation, it includes greater protection of children, limits on advertising and boost to European production. Rules will apply to television channel and also to video-on-demand platforms and distribution of videos, as well as to live broadcasts on these platforms. In particular video sharing platforms will be obliged to reserve at least 30% of European production in their video catalogs on demand. In addition, Member States may impose financing obligations to providers of VOD services established in another Member State but offering services in their countries. • The Geo-Blocking Regulation tries to limit geographically-based restrictions which undermine online shopping and cross-border sales. As a follow-up to the revision of the Geo-Blocking Regulation, the European Commission published an Action Plan to support the recovery and transformation of the audiovisual sector on December 3, 2020, in order to initiate a dialogue with the audiovisual industry during the year 2021 to improve access and availability of audiovisual content across EU borders. • Proposed Regulations on the Digital Services Act and the Digital Markets Act: On December 15, 2020, the European Commission published its proposed Digital Services Act and Digital Markets Act regulations. In relation to the new Digital Services regulation, obligations will apply throughout the EU to all digital services that connect consumers to goods, services or content, such as: • Rules on the removal of illegal goods, services or content online. • Safeguards for users whose contents have been removed by error by the platforms. • Obligation for the platforms to adopt measures to avoid the abuse of their systems. • Transparency measures with a wide scope. • New powers to control the operation of the platforms. • New rules on the traceability of companies in online markets. • Cooperation process between authorities to ensure compliance and adoption of measures. With respect to the Digital Market regulation, whose main goal is to avoid the negative consequences derived from the behavior of the platforms that act as "gate keepers", the main points regulated are: • It will only apply to the main platform providers more prone to incur in unfair practices. • It defines thresholds for the definition of "gate keepers". • It will prohibit manifestly unfair practices. • It requires "gate keepers" to take action in a proactive manner. • The regulation will impose penalties of up to 10% of global income for non-compliance. The European Parliament and the Member States will debate both proposals until they are approved. This process may take approximately one year. Data Protection In relation with Data Protection & Privacy, the new General Data Protection Regulation (GDPR) of April 27, 2016, directly applicable in all member States in Europe from May 25, 2018, introduced administrative fines of up to 4% of an undertaking’s annual global turnover of the preceding financial year for breaching the new data protection rules. Member States, among them Spain, Germany and United Kingdom have adopted implementing measures of this Regulation. 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 of the preceding financial year for breaching new regulation. Its approval is expected for 2021. On the other hand, the Privacy Shield, approved by the EC on July 12, 2016 to lay out the framework for the international transfer of personal data from the EU to the US, was declared invalid by the European Court of Justice (ECJ) on July 16, 2020. In the same Ruling, ECJ considered that the Standard Contractual Clauses (SCC) for the transfer of personal data to processors established in third countries are valid, but may not be sufficient, in particular when the law of the third country allows its public authorities to interfere with personal data rights without adequate safeguards and effective remedies and actions. In those cases, the data controller will have to assess if they need to take additional measures. If these additional measures are not sufficient, they are obliged to suspend or terminate the international transfer of personal data. Radio spectrum policy 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 was expected to 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. Recent COVID-19 exceptional circumstances have delayed awards and spectrum availability in some Member States. EU competition law European competition provisions have the force of law in Member States and, therefore, are applicable to our operations in those States. The Treaty on the Functioning of the European Union (TFEU) prohibits “concerted practices” and any agreement between companies that may affect trade between Member States and that restricts or has the objective of restricting competition in domestic market. The Treaty also prohibits any abuse of dominant position within the European Union or any considerable part thereof that may affect trade between Member States. The Community Merger Regulation requires that all mergers, acquisitions and joint ventures involving companies that meet certain volume thresholds are subject to review by the EC rather than the national competition authorities. In accordance with the amended Community Merger Regulation, market concentrations that significantly impede effective competition in the market will be prohibited. The European Commission has the authority to apply the EU framework for the defense of the competition. There are similar competition rules in the legislation of each Member State. Those responsible for ensuring compliance are the national competition authorities. All European countries in which Group Telefónica operates and to which we refer below are Member States of the European Union. 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 draft of the General Telecommunications Law, implementing the "EECC", has been submitted to a public consultation process in 4Q2020 and it is expected that the draft bill will be approved during the first half of 2021, starting from that moment its parliamentary process. 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 Telefónica 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 SMP, 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 July 2019, the CNMC carried out a new round of market analysis in terminated fixed networks, reaching the same conclusions as in the prior analysis 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. Relevant developments are the updating of terminating prices for the period 2019-2021, as well as the possibility of charging a surcharge for traffic originated outside the EU under the principle of reciprocity. The approved prices are as follows: from August 2019 until December 31, 2019 at 0.0643 euros per minute; from January 1, 2020 until December 31, 2020 at 0.0593 euros per minute and from January 1, 2021 at 0.0545 euros per minute. Mobile market Mobile network call termination On January 2018, the CNMC adopted the final decision where all mobile operators were considered SMP for the call termination in their networks. On January 18, 2020, the CNMC approved terminating prices applicable from January 1, 2020, set at 0.64 euro cents per minute, as well as the possibility of charging a surcharge for traffic originated outside the EU under the principle of reciprocity . 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. 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. In March 2018, the CNMC approved the 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), set at 17.57 euros per month. This price is reviewed twice a year in order to assess whether Telefónica's retail offers (broadband flagship products) are economically replicable with such price. In July 2018, the CNMC approved the methodology to analyze whether Telefónica’s business offers can be replicated by other operators. On November 12, 2020, by means of a resolution to the revision of the parameters of the Economic Replicability Test, CNMC has considered that one of Telefónica’s flagship products was not replicable with existing wholesale access service price, encouraging Telefonica to reduce that price in order to restore the economic replicability of all its retail flagship products. The resolutions from March 2018, July 2018 and November 2020 has been appealed by Telefónica de España. On November 17, 2020, CNMC launched a public consultation regarding the broadband market (3a/3b market) regulation. The most remarkable aspects suggested by CNMC are: • To expand the competitive area in new generation networks, from 66 to 592 districts, which represent the 67% where the Spanish population lives. In these areas the obligation to offer a wholesale broadband access service (NEBA) will not be imposed on Telefónica’s fiber network. • In the remaining districts, CNMC requires Telefónica to provide other operators with a virtual disaggregated access service (local NEBA) and a wholesale broadband access service (NEBA) on its fiber network. • Throughout the whole territory, CNMC suggests continuing maintaining the obligation by which Telefónica must provide the wholesale service of giving access to its civil infrastructure (ducts, conduits and posts). After analyzing the comments made by the interested parties during the hearing process, CNMC will approve a draft measure that will be sent to the European Commission, as well as to the Ministry of Economic Affairs and Digital Transformation. It is expected that the new regulatory measure will be approved during 2021. Universal service obligations The Minister of Economy and Business on September 26, 2020, has approved a Resolution (ECE/1280/2019) for the designation of Telefónica de España as the operator responsible for the Universal Service Obligation (Network access and telephone service, public payphones) for a period of three and two respectively from January 1, 2020. The designation for the provision of a sufficient supply of public payphones has been appealed by Telefonica de España. Spectrum On February 22, 2021, Telefónica España acquired a 10 MHz block in the 3.4-3.8 GHz band for 21 million euros. With this spectrum acquisition, Telefónica completes 100 MHz which corresponds to the maximum carrier width in the 5G standard. Following this auction, the reorganization procedure of the 3.4-3.8 GHz band may be opened, in order for all the operators to have contiguous frequency blocks and ensure a more efficient use of the spectrum to deploy 5G technology and associated services. Regarding the 700 MHz band, a consultation has been opened on the conditions of an auction of a total of 75 MHz, which is expected to take place in April 2021, distributed in a 2X10 MHz license and four 2x5 MHz licenses in the 703-733/758-788 MHz band and three additional 5 MHz download licenses each in the 738-753 MHz band. Additionally, Telefónica has already extended its administrative concessions in the 3.4-3.6 GHz band (2x20 MHz) and the 2.1 GHz band (2x5 MHz+ 5 MHz). In both cases, the initial term of the concession expired in April 2020 with the extension of 10 additional years (until 2030). 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 Distribuidora de Televisión Digital, S.A. (DTS) The Resolution of 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. In July 2020, CNMC decided to extend the application of the commitments on the DTS merger for an additional period of three years. After analyzing the existence of relevant modifications in the markets affected by the operation, the CNMC considered that it was justified to maintain all the commitments except for the broadcasting rights in the video on-demand modality (SVOD), whose commitment to limit the exclusivity, validity period and exploitation period of the contracts that Telefónica could sign is eliminated. In the TV channel commercialization area, the commitment prohibiting Telefónica from early termination of contracts with third party TV channel owners whose term ends within the commitment extension period is softened, allowing the early termination through good faith negotiation, under reasonable and non-discriminatory conditions. The commitments related to the pay-TV market in Spain, expressly subject to a term that has already expired, also terminate. Telefónica has appealed the decision. 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 Telecommunications 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. On December 16, 2020, the German government published a draft new Telecommunications Act which aims at transposing the European Code of Electronic Communications (EECC) into German law. The respective legislative proceedings will take some more months . On January 14, 2021, the German parliament passed the GWB-Digitalisierungsgesetz (Act for restrictions of digital competition). The aim of the act is to counteract abusive behavior of companies with a relevant importance in the market for competition. It was published on January 19, 2021. 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 The spectrum auction of June 12, 2019, bid the entire spectrum of the 2100 MHz band awarded to Telefónica so far. As a result of the auction, Telefónica obtained a 2x5 MHz block, whose license began on January 1, 2021 and expires on December 31, 2040, and another 2x5 MHz block with a license from January 1, 2026 to December 31, 2040. Thus, until December 31, 2020, Telefónica, in the 2100 MHz band has had 2x19.8 MHz + 2x14.85 MHz (a total of 2x34.65 MHz). From January 1, 2021 to December 31, 2025, Telefónica has 2x5 MHz (until 2040) + 2x14.85 MHz (until 2025), a total of 2x19.85 MHz, and from January 1, 2026 it will have 2x10 MHz until December 31, 2040. In connection with the aforementioned auction, Telefónica's appeals against Decisions III and IV adopted by the German regulator on the conditions of use of the frequencies and the auction rules for the 2 GHz and 3.4 to 3.7 GHz bands are pending. Telefónica challenged the coverage obligations imposed and the requirement to negotiate network access. On the other hand, in the 2.6 GHz band, Telefónica is renting 2x10 MHz to 1&1 DRI as a consequence of the remedies of the merger with E-Plus. With regard to payment, Telefónica Deutschland Group, like the other auction participants, reached an agreement with the Federal Republic of Germany on September 5, 2019, as part of a national mobile communications pact, on payment facilities in the form of deferrals and installments. In return, the Telefónica Deutschland Group undertook to build 333 additional mobile communications locations in white spots by the end of 2021; in addition, 99% of households nationwide are to be supplied with LTE by the end of 2020 and each federal state by the end of 2021. On November 21, 2019, BNetzA opened the application procedure for the assignment of spectrum for local non-public broadband in the 3.7 to 3.8 GHz range, in particular for 5G applications, from which telecommunications operators are excluded. The procedure is still open. Merger of Telefónica and E-Plus On December 18, 2019, Telefónica Deutschland and 1&1 Drillisch signed an agreement,approved by BNetzA on January 29, 2020, to lease 1&1 Drillisch 2x 10 MHz in the 2.6 GHz band until the end of 2025, when this license expires. In return, Telefónica Deutschland will receive an annual fee. With this agreement, Telefónica Deutschland will comply with another commitment agreed with the EC, in the context of the merger of Telefónica Deutschland and E-Plus. On February 22, 2019, the EC initiated formal proceedings against Telefónica Deutschland Group for the implementation of the commitment to grant 4G wholesale services resulting from the merger of Telefónica/E-Plus by issuing a Statement of Objections. Telefónica Deutschland commented on the Statement of Objections on April 26, 2019. Telefónica Deutschland has adjusted the conditions of 4G wholesale services. Market reviews Mobile termination rates (MTR) The most recently valid MTR of 0.95 euro cents per minute expired on November 30, 2019. The MTR valid as of December 1, 2019, have been approved at 0.90 euro cents per minute until November 30, 2020. As of November 30, 2021, a rate of 0.78 euro cents per minute and from December 1, 2021 a rate of 0.70 euro cents per minute was approved. Fixed termination rates (FTR) In a resolution dated June 28, 2019, BNetzA fixed the FTR for the year 2020 at 0.06 euro cents per minute and for the year 2021 at 0.05 euro cents per minute. BNetzA consultation and market studies on fiber optic infrastructures The analysis by BNetzA in 2017 on “Issues in rates regulation for FttH/B-based wholesale products w |
Annex 1
Annex 1 | 12 Months Ended |
Dec. 31, 2020 | |
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 each of the companies comprising the Telefónica Group, whose separate financial statements were prepared in accordance with the generally accepted accounting principles applicable in the various countries in which they are located, and for the 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, 2020, and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended. The euro is the Group’s reporting currency. The figures in these consolidated financial statements are expressed in million euros, unless indicated otherwise, and may therefore be rounded. 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 having to be presented due to their qualitative significance, were deemed to be 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. Comparative information and main changes in the consolidation scope For comparative purposes, the accompanying consolidated financial statements for 2020 include the figures for 2019, and 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 2018. The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2020 and 2019 (see Appendix I for a detailed description of the consolidation scope and the changes during the year) are as listed below. COVID-19: impact and response in Telefónica The COVID-19 crisis caused the greatest GDP fall of the last decades and, inevitably, it impacted the financial and operative performance of the Group. Consolidated revenues and operating income decreased 11.0% and 8.8% year-on-year, respectively, partly due to the effect of the pandemic. Revenues were affected by the reduction of the commercial activity, which was reflected in lower service revenues and lower handset sales. Telefónica experienced the most significant effects during the second quarter as lockdowns imposed across the Group's markets put unprecedented pressure to commercial activity. In this period the impairment of trade receivables increased, mainly in Telefonica Hispam, with a subsequent improvement in the second half of the year (see Note 14). The decrease in revenues was partially mitigated by the measures taken to reduce costs and by lower churn rates. Furthermore, CapEx was reduced 33.3% year-on-year (see Note 4), consequently the impact in the operating cash flow was lower than the impact in the income. The crisis contributed to the significant depreciation against the euro of the major currencies of the countries where the Group operates, as shown below. Variation of closing exchange rate (12/31/2020 vs 12/31/2019) Variation of average exchange rate (2020 vs 2019) Brazilian real (29.0 %) (24.1 %) Pound sterling (5.2 %) (1.3 %) Peruvian nuevo sol (16.2 %) (6.1 %) Argentine peso (34.8 %) (34.8 %) Chilean peso (3.6 %) (12.9 %) Colombian peso (12.6 %) (12.6 %) Mexican peso (13.3 %) (11.5 %) This depreciation had a negative impact in Equity attributable to equity holders of the parent amounting to 5,801 million euros (see Note 17). Due to the indications of impairment during the year, the Group carried out goodwill impairment tests at interim periods, with a special emphasis on those cash generating units with a carrying value closer to the value in use at December 31, 2019. At year-end closing these analysis were updated, based on the latest business plans of the various cash-generating units, approved by Telefónica's Board of Directors. These plans include the impacts of the COVID-19 crisis. As a result of this analysis, an impairment loss was recognized for the total goodwill allocated to Telefónica Argentina amounting to 519 million euros (see Note 7). in addition, an impairment loss for intangible assets amounting to 106 million euros (see Note 6) and an impairment loss for property, plant and equipment amounting to 269 million euros (see Note 8) were recognized for this cash generating unit (CGU). As a result of the impairment of these assets, the deferred tax liability associated with the hyperinflation adjustment in Argentina was partially derecognized, amounting to 94 million euros (see Note 25). Furthermore, the recoverability of deferred tax assets of the Group was analyzed based on the new business plans and the estimation of realization of these assets, taking into account the latest regulatory changes. As a result of this analysis, deferred tax assets amounting to 101 million euros were derecognized, corresponding to the tax group in Spain (see Note 25). Throughout the crisis, in order to support the communities in which the Group operates, Telefónica implemented measures aimed at: • Protecting the health and safety of its employees and customers. • Providing critical infrastructure and technology services to governments and health authorities. • Donating goods and services to hospitals and vulnerable customers. • Making the Group's high-tech buildings available for public use (O2 Arena in London and O2 Tower in Munich). • Providing customers with free mobile data and additional entertainment services at no extra cost. • Accelerating payments to suppliers with liquidity problems and offering flexible payments terms. • Maintaining the 2020 dividend for shareholders; with enhancing financial flexibility with a voluntary scrip dividend (see Note 17). On the other hand, the governments of the different countries where the Group operates established temporary regulatory measures that affected the telecommunications sector such as ban on suspending service due to debt and suspension of number portability operations (see "Regulation on COVID-19" in Appendix VI). In addition, in most countries Telefónica operators agreed with the governments to offer packages of minimum connectivity at a reduced or free price, along with free access to specific platforms (health, emergency services, education, information). Telefónica's state-of-the-art networks enabled the Group to facilitate record growth in traffic driven by remote working and increased consumption of entertainment services while maintaining high levels of customer experience and service quality. Agreement between Telefónica and Liberty Global plc to combine their operating businesses in the UK On May 7, 2020, Telefónica reached an agreement with Liberty Global plc to combine into a 50-50 joint venture their operating businesses in the UK (O2 Holdings Ltd. and Virgin Media UK, respectively). The transaction is expected to deliver significant value to Telefónica, which expects to receive 5.7 billion pounds sterling of proceeds in total (calculated at the date of the agreement and subject to customary adjustments in this type of transactions), after an equalization payment by Liberty Global of 2.5 billion pounds sterling. This move is fully aligned with the Telefonica strategy to focus on improving market positioning in its core markets. It will enable Telefónica to reinforce its presence and continuity in this market through the creation of an integrated communications provider in the United Kingdom that will offer their customers a convergent value proposition. Accordingly, Telefónica United Kingdom remains as a reportable segment (see Note 4). The transaction is subject to regulatory approvals and other customary closing conditions. As of the date of this Annual Report, such conditions have not been satisfied. The companies included in the transaction have been recognized as a disposal group held for sale (see Note 3m). Therefore, the consolidated assets and liabilities have been reclassified under ‘‘Non-current assets and disposal groups held for sale’’ and ‘‘Liabilities associated with non-current assets and disposal groups held for sale’’, respectively, in the consolidated statement of financial position at December 31, 2020 (see Note 30). Agreement between Telxius Telecom and American Tower Corporation for the sale of its telecommunications towers divisions in Europe and Latin America On January 13, 2021 Telxius Telecom, S.A. (a company of the Telefónica Group minority-owned, directly or indirectly, by KKR and Pontegadea), signed an agreement with American Tower Corporation ("ATC") for the sale of its telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (Brazil, Peru, Chile and Argentina), for an amount of 7.7 billion euros, payable in cash. The agreement establishes the sale of a number of approximately 30,722 telecommunication tower sites and comprises two separate and independent transactions (on one hand, the Europe business and, on the other hand, the Latin American business), setting the respective closings once the corresponding regulatory authorizations have been obtained. The agreement include the transfer to ATC of the towers that Telxius agreed to acquire from Telefónica Germany GmbH & Co. under the agreement signed on June 8, 2020, including the towers acquired in the first phase on September 1, 2020 and the towers that will be acquired in the second phase by August 2021 (see Note 4). In accordance with IFRS 5, the companies of the Telxius Group included in the transaction have been recognized as a disposal group held for sale in the consolidated statement of financial position at December 31, 2020 (see Note 30). The non-current assets will cease to be amortized and depreciated for accounting purposes from December 31, 2020. Acquisition of a 50% stake in Prosegur’s alarm business in Spain On September 17, 2019 Telefónica, S.A. reached an agreement with Prosegur Compañía de Seguridad, S.A. (“Prosegur”) for the acquisition of a 50% stake in Prosegur's alarm business in Spain, with the objective of developing said business through the combination of the complementary capabilities of both companies. On February 28, 2020, after obtaining the relevant regulatory approvals, Telefónica de Contenidos, S.A.U. acquired 50% of the shares in Prosegur Alarmas España, S.L. The price was paid with 49,545,262 shares in Telefónica (see Note 17), with a valuation amounting to 266 million euros at the date of the transaction. This investment has been registered in the line of "Investments accounted for by the equity method" of the statement of financial position (see Note 10). Impact of adopting IFRS 16 Leases On January 1, 2019 IFRS 16 Leases ("IFRS 16") became effective, resulting in changes in the accounting policies applied to lease contracts in prior periods. IFRS 16 requires lessees to recognize assets and liabilities arising from lease contracts in the statement of financial position. A lessee may elect not to apply the general requirements to short-term leases and leases of low-value assets. The Group acts as a lessee on a very significant number of lease agreements over different assets. This mainly include third-party towers, circuits, office buildings and stores and land where its own towers are located. A significant portion of these contracts was accounted for as operating lease under the previous lease standard, with lease expenses being recognized on a straight-line basis over the contract term. The implementation of IFRS 16 in the Group was highly complex due to factors such as the high number of contracts affected and the diversity of data source systems, as well as the need to make certain estimates. These estimates included 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, assumptions are required to calculate the discount rate, which is based mainly on the incremental borrowing rate of interest for the estimated term. 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 recognized at the date of initial application. The Group adopted the latter transition method; therefore, the Group recognized the cumulative effect of initial application as an adjustment to equity at the transition date, January 1, 2019, amounting to 16 million euros (see Note 17). Consequently, the 2018 information presented for comparative purposes were not restated (i.e., it is prepared and presented in accordance with the accounting standard effective at that moment: under IAS 17 Leases). Moreover, the Group applied 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 identified as leases under the previous accounting standard. The modifications introduced by IFRS 16 had a significant impact on the group's financial statements since the date of adoption, as shown below: Millions of euros Impact of the first application Opening balance of rights of use at January 1, 2019 (Note 9) 7,870 Impact of IFRS 16 on rights of use of companies held for sale at December 31, 2018 (1) 155 Reclassification of property, plant and equipment deriving from finance leases under IAS 17 (Note 8) (249) Reclassification of advance payments of lease contracts in force at December 31, 2018 (178) Accounts receivable for subleases 18 Impact of IFRS 16 on assets at transition date 7,616 Opening balance of lease liabilities at January 1, 2019 (Note 20) 7,705 Impact of IFRS 16 on lease liabilities of companies held for sale at December 31, 2018 (1) 152 Reclassification of finance lease liabilities under IAS 17 at December 31, 2018 (201) Reclassification of other liabilities at December 31, 2018 (56) Impact of IFRS 16 on liabilities at transition date 7,600 Impact of IFRS 16 on equity at transition date (Note 17) 16 (1) Antares, Telefónica Móviles Guatemala and Telefónica Móviles El Salvador (see Note 30) . Following is a summary of estimated impacts of IFRS 16 on the Group’s consolidated income statement in 2019, presented on a voluntary basis: Millions of euros 2019 INCOME STATEMENT IFRS 16 IAS 17 IFRS 16 Impact Revenues 48,422 48,422 — Other income 2,842 3,032 (190) Supplies (13,635) (14,490) 855 Personnel expenses (8,066) (8,070) 4 Other expenses (14,444) (15,284) 840 Depreciation and amortization (10,582) (8,950) (1,632) OPERATING INCOME 4,537 4,660 (123) Share of income (loss) of investments accounted for by the equity method 13 13 — Finance income 842 842 — Exchange gains 2,461 2,449 12 Finance costs (2,795) (2,599) (196) Exchange losses (2,340) (2,310) (30) Net financial expense (1,832) (1,618) (214) PROFIT BEFORE TAX 2,718 3,055 (337) Corporate income tax (1,054) (1,104) 50 PROFIT FOR THE YEAR 1,664 1,951 (287) Attributable to equity holders of the Parent 1,142 1,383 (241) Attributable to non-controlling interests 522 568 (46) Basic and diluted earnings per share attributable to equity holders of the parent (euros) 0.16 0.20 (0.05) The impact in Other income is due to the different approach under IFRS 16 to determine the gain on sale and leaseback transactions (see Note 20). In addition, the statement of cash flows is also impacted by IFRS 16. The main impact is the recording within the “cash flow from financing activities” of principal payments for lease contracts amounting to 1,787 and 1,518 million euros in 2020 and 2019, respectively (see Note 20), as well as the recording of interests related to said contracts under the heading “interest payments and other financial expenses” amounting to 179 million euros and 185 million euros in 2020 and 2019, respectively (see Note 20). Until the entry into force of IFRS 16 the operating leases payments were recorded under "Cash paid from operations". Payments for low cost and short-term leases continue to be recorded under "Cash received from operations" (see Note 9). Translation of Telefónica Venezolana’s financial statements Venezuela has been considered a hyperinflationary economy since 2009. We regularly review 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. On August 20, 2018 Venezuela introduced the Bolivar Soberano (VES), which replaced the Bolívar Fuerte (VEF) removing five zeros (1 VES = 100,000 VEF). In light of the economic environment and in the absence of official rates that are representative of the situation in Venezuela, the Group maintained its policy for estimating an exchange rate to match the progression of inflation in Venezuela and attempts to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements more accurately (hereinafter, synthetic exchange rate). At December 31, 2020, the synthetic exchange rate was calculated considering the inflation rates that were published (2,959.8% from January to December 2020). The inflation rate published for January to December 2019 was 9,585.5%. Thus, the exchange rate used to translate the financial statements of the Venezuelan subsidiaries as of December 31, 2020 amounts to 2,094,405 VES/USD (68,448 VES/USD as of December 31, 2019). The official reference exchange rate at December 31, 2020 was 1,107,199 VES/USD (46,621 VES/USD at December 31, 2019). The translation of the financial statements of Telefónica Venezolana in 2020 had a negative impact in retained earnings amounting to 26 million euros (-212 million euros in 2019). The following table presents the figures of Telefónica Venezolana in certain items of the consolidated income statement, the consolidated statement of cash flows and the consolidated statement of financial position of the Telefónica Group, by applying the synthetic exchange rate: Millions of euros 2020 2019 2018 Revenues 72 79 18 Depreciation and amortization (13) (10) (67) Operating income (13) 7 (64) Net financial expense (1) 24 63 216 Profit before tax 37 70 152 Corporate income tax (2) (9) 3 (186) Result for the year 28 73 (34) Net cash flow provided by operating activities (1) 14 7 Capital expenditures (CapEx) 17 20 2 Non-current assets 51 43 238 (1) Mainly resulting from the hyperinflation adjustment to the net monetary position and the exchange differences arising from foreign currency items held by Telefónica Venezolana. (2) Mainly deferred tax recognized for the inflation adjustments of the net assets, which are not deductible according to the present tax regime in Venezuela. Change in accounting policy for the presentation of hyperinflation effects in equity Since 2018, the Group includes all the equity effects derived from hyperinflation, i.e.: (a) the restatement for inflation of the financial statements of the Group companies operating in hyperinflationary economies, and (b) the effects of translating their respective financial statements into euros using the exchange rate at the end of the period, in a single line item under the heading Retained Earnings. In March 2020, the International Financial Reporting Standards Committee (IFRIC) released its interpretation in this regard, indicating that these impacts should be recorded either separately, the former in Retained Earnings and the latter in Translation Differences, or jointly recognized as Translation Differences under the heading Other Comprehensive Income. As a result, in 2020 the Group adopted this presentation policy and now presents the equity effects of hyperinflation under Translation Differences, within Other Comprehensive Income, rather than under the heading Retained Earnings. The consolidated net equity is not modified by this change in presentation. In accordance with IAS 8, financial information from previous years presented for comparative purposes has been restated so that the information is comparable. Consequently, the Retained Earnings heading no longer includes the cumulative effects arising from hyperinflation in Venezuela and Argentina, which have been reclassified to Translation Differences amounting to 5,664 million euros at 31 December 2019 and 5,406 million euros at 31 December 2018. As this change in accounting policy is a reclassification within equity, the basic and diluted earnings per share figures are not affected in any of the periods presented. Sale of Antares On November 8, 2018, Telefónica reached an agreement with Grupo Catalana Occidente for the sale of 100% of Seguros de Vida y Pensiones Antares, S.A. for a total amount of 161 million euros. At December 31, 2018, the assets corresponding to Antares were classified as non-current assets and disposal groups held for sale and the liabilities as liabilities associated with non-current assets and disposal groups held for sale, amounting to 793 million euros and 661 million euros, respectively. On February 14, 2019, after obtaining the relevant regulatory approvals, the sale was concluded. This transaction generated a gain in the consolidated income statement of 2019 amounting to 98 million euros, under "Other income". In addition, it involved an equity reclassification between "Actuarial gains and losses and impact of limit on assets for defined benefit pension plans" and "Retained earnings" amounting to 89 million euros. Sale of Telefónica Móviles Guatemala and Telefónica Móviles El Salvador On January 24, 2019, Telefónica Centroamérica Inversiones, S.L. (60% of which is owned, directly and indirectly, by Telefónica and 40% of which is owned by Corporación Multi Inversiones), reached an agreement with América Móvil, S.A.B. of C.V. for the sale of the entire share capital of Telefónica Móviles Guatemala, S.A. and 99.3% of Telefónica Móviles El Salvador, S.A. de C.V. The aggregate consideration for both companies (enterprise value) was 648 million US dollars (approximately 570 million euros at the exchange rate on the date of the agreement, 293 million euros of which corresponded to Telefónica Móviles Guatemala and 277 million euros of which corresponded to Telefónica Móviles El Salvador). The closing of the sale of Telefónica Móviles Guatemala took place the same day. This transaction did not have a significant impact in the consolidated financial statements of 2019. Due to the exclusion of Telefónica Móviles Guatemala from the scope of consolidation, the Equity attributable to non-controlling interests decreased by 114 million euros. The closing of the Telefónica El Salvador sale was pending approval by the competition authority. In 2020, Telefónica and América Móvil, S.A.B. of C.V. terminated the purchase agreement, after careful consideration by both parties of the conditions to obtaining regulatory approval established by the Superintendencia de Competencia. As a consequence, Telefónica El Salvador ceased to be classified as disposal group held for sale (see Note 30). Sale of Telefonía Celular de Nicaragua, Telefónica Móviles Panamá and Telefónica de Costa Rica On February 20, 2019 Telefónica reached an agreement with Millicom International Cellular, S.A. for the sale of the entire share capital of Telefónica de Costa Rica TC, S.A., and for the sale by Telefónica Centroamérica Inversiones, S.L. of the entire share capital of Telefónica Móviles Panamá, S.A. and Telefonía Celular de Nicaragua, S.A. The aggregate amount of the transaction (enterprise value) for all the companies was 1,650 million US dollars (approximately 1,455 million euros at the exchange rate of the date of the agreement). On May 16, 2019, after obtaining the relevant regulatory approvals, Telefónica Centroamérica de Inversiones, S.L. transferred the entire share capital of Telefonía Celular de Nicaragua, S.A. to Millicom International Cellular, S.A. for an amount of 437 million US dollars, approximately 390 million euros at that date. The impact of this transaction in the consolidated income statement for 2019 amounted to 172 million euros, under "Other income" (Note 26). On August 29, 2019, after obtaining the relevant regulatory approvals, the entire share capital of Telefónica Moviles Panamá, S.A. was transferred to Cable Onda S.A. (subsidiary of Millicom International Cellular, S.A.), for an amount of 594 million US dollars, approximately 536 million euros at that date. The impact of this transaction in the consolidated income statement of 2019 amounted to 190 million euros, under "Other income" (Note 26). As a result of the exclusion of Telefonía Celular de Nicaragua, S.A. and Telefónica Móviles Panamá, S.A. from the scope of consolidation, the Equity attributable to non-controlling interests decreased by 112 million euros and 188 million euros, respectively. In March 2020, Telefónica informed Millicom that, once the pertinent regulatory authorizations had been obtained and all the other conditions established in the aforementioned agreement for the execution of the sale had been completed, the execution of the contract and the closing of the transaction should be in April 2020. Millicom expressed its refusal to proceed with the closing, arguing that one of the Costa Rican administrative authorities had not issued the appropriate authorization. Telefónica filed a lawsuit against Millicom before the New York Supreme Court, considering that Millicom had breached the terms and conditions established in the sale contract, demanding compensation for all damages that this unjustified breach could cause to Telefónica (see Note 29.a). On July 30, 2020, Telefónica reached an agreement with Liberty Latin America Ltd. for the sale of the entire share capital of Telefónica de Costa Rica TC, S.A. The enterprise value of Telefónica Costa Rica is 500 million U.S. dollars (approximately 425 million euros at exchange rate of the date of the agreement). At the date of issue of these consolidated financial statements, the closing of the transaction is subject to the pertinent regulatory approvals. At December 31, 2020 Telefónica Costa Rica maintained its classification as disposal group held for sale (see Note 30). Individual Suspension Plan On September 27, 2019, Telefónica Spain signed the II Collective Agreement of Related Companies (CEV), wholly backed by the largest labor unions. The overall resources plan that was approved is based on: • Evolution of the Collective Agreement of Related Companies, in order to have a framework of employment stability with greater flexibility and continue advancing on work-life balance and diversity, including, among other proposals, an Individual Suspension Plan which is entirely voluntary for 2019 (with the same conditions as the previous one). • Training, reskilling and upskilling plan that enables improving skills and taking advantage of the potential of the current staff, focusing on new business needs (digitization, robotization and processes automation). The present value of the payment flows of the Plan, together with the update of the estimates of the previous plan and the provision for the training plan resulted in expenses amounting to 1,732 million euros before taxes, reflected in "Personnel expenses" of the accompanying consolidated income statement for 2019 (see Note 24). The update of the provision of the plan included in the previous collective agreement, together with the updated termination plans, entailed an expense of 297 million euros in the 2018 consolidated income statement (see Note 24). Sale of a portfolio of data centers businesses On May 8, 2019, Telefónica reached an agreement for the sale of a portfolio of 11 data centers located in seven jurisdictions (Spain, Brazil, USA, Mexico, Peru, Chile and Argentina) with a company controlled by Asterion Industrial Partners SGEIC (currently, Nabiax, S.A.) for a total amount of 550 million euros. The total capital gain reflected in "Other income" generated in 2019 for the sale of these businesses amounted to 213 million euros (Note 26). Transformation of the operating model of Telefónica México On November 21, 2019 Pegaso PCS, S.A. de C.V. (Telefónica México) and AT&T Comunicaciones Digitales, S. de R.L. de C.V. (AT&T Mexico) entered into a Wholesale Access Services Agreement (see Note 29.c), under which AT&T Mexico will provide wholesale wireless access to Telefónica México on 3G, 4G and any other future technology available in Mexico. The Wholesale Agreement will be of a minimum duration of eight years, renewable for additional consecutive periods of three years. Such Wholesale Agreement established a gradual migration of Telefónica Mexico’s traffic to AT&T Mexico's access network over the first three years of the agreement. As such migration is carried out, Telefónica México’s wireless access infrastructure will be turned off and, consequently, Telefónica México will discontinue using the licensed spectrum used in the past to operate its network. The main impacts of the transformation of the operating model of Telefónica México in 2019 consolidated financial statements were as follows: • A provision amounting to 167 million euros with a counterparty in Other expenses (see Note 26) due to the impact in certain pre-existing service contracts (energy supply, access to fiber optic networks and others), and additional restructuring expenses amounting to 44 million euros. • A net loss amounting to 27 million euros, due to the partial return of spectrum licenses, -123 million euros corresponding to fully paid licenses (see Notes 6 and 26), and +95 million euros corresponding to licenses with deferred payments (associated debt) that were released (see Note 26). • Accelerated depreciation of property, plant and equipment and amortization of rights of use due to the reduction of the useful lives of certain assets, with an impact of 36 million euros in the 2019 consolidated income statement. • Reduction of payables for spectrum acquisition amounting to 508 million euros due to the cancelation of the debt associated with the licenses that were returned (see Note 21). Additionally, in 2019 Telefónica Mexico reversed deferred tax assets with a counterparty in Corporate income tax, amounting to 454 million euros (see Note 25), due to the new estimations regarding the time horizon in which the Group expects to recover the assets. In 2018 Telefónica Mexico had reversed deferred tax assets amounting to 327 million euros. 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 1 SP (City) 2 SP (Interior) 2' SP - towns of sector 33 of the GPLG 3 RJ and ES 4 MG 4' MG - towns of sector 3 of the GPLG 5 PR and 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 and TO 7' GO - towns of sector 25 of the GPLG 7'' MS - towns of sector 22 of the GPLG 8 AM, AP, MA, PA and RR 9 BA and SE 10 AL, CE, PB, PE, PI and 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, Comendad |
Annex 2
Annex 2 | 12 Months Ended |
Dec. 31, 2020 | |
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 each of the companies comprising the Telefónica Group, whose separate financial statements were prepared in accordance with the generally accepted accounting principles applicable in the various countries in which they are located, and for the 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, 2020, and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended. The euro is the Group’s reporting currency. The figures in these consolidated financial statements are expressed in million euros, unless indicated otherwise, and may therefore be rounded. 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 having to be presented due to their qualitative significance, were deemed to be 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. Comparative information and main changes in the consolidation scope For comparative purposes, the accompanying consolidated financial statements for 2020 include the figures for 2019, and 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 2018. The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2020 and 2019 (see Appendix I for a detailed description of the consolidation scope and the changes during the year) are as listed below. COVID-19: impact and response in Telefónica The COVID-19 crisis caused the greatest GDP fall of the last decades and, inevitably, it impacted the financial and operative performance of the Group. Consolidated revenues and operating income decreased 11.0% and 8.8% year-on-year, respectively, partly due to the effect of the pandemic. Revenues were affected by the reduction of the commercial activity, which was reflected in lower service revenues and lower handset sales. Telefónica experienced the most significant effects during the second quarter as lockdowns imposed across the Group's markets put unprecedented pressure to commercial activity. In this period the impairment of trade receivables increased, mainly in Telefonica Hispam, with a subsequent improvement in the second half of the year (see Note 14). The decrease in revenues was partially mitigated by the measures taken to reduce costs and by lower churn rates. Furthermore, CapEx was reduced 33.3% year-on-year (see Note 4), consequently the impact in the operating cash flow was lower than the impact in the income. The crisis contributed to the significant depreciation against the euro of the major currencies of the countries where the Group operates, as shown below. Variation of closing exchange rate (12/31/2020 vs 12/31/2019) Variation of average exchange rate (2020 vs 2019) Brazilian real (29.0 %) (24.1 %) Pound sterling (5.2 %) (1.3 %) Peruvian nuevo sol (16.2 %) (6.1 %) Argentine peso (34.8 %) (34.8 %) Chilean peso (3.6 %) (12.9 %) Colombian peso (12.6 %) (12.6 %) Mexican peso (13.3 %) (11.5 %) This depreciation had a negative impact in Equity attributable to equity holders of the parent amounting to 5,801 million euros (see Note 17). Due to the indications of impairment during the year, the Group carried out goodwill impairment tests at interim periods, with a special emphasis on those cash generating units with a carrying value closer to the value in use at December 31, 2019. At year-end closing these analysis were updated, based on the latest business plans of the various cash-generating units, approved by Telefónica's Board of Directors. These plans include the impacts of the COVID-19 crisis. As a result of this analysis, an impairment loss was recognized for the total goodwill allocated to Telefónica Argentina amounting to 519 million euros (see Note 7). in addition, an impairment loss for intangible assets amounting to 106 million euros (see Note 6) and an impairment loss for property, plant and equipment amounting to 269 million euros (see Note 8) were recognized for this cash generating unit (CGU). As a result of the impairment of these assets, the deferred tax liability associated with the hyperinflation adjustment in Argentina was partially derecognized, amounting to 94 million euros (see Note 25). Furthermore, the recoverability of deferred tax assets of the Group was analyzed based on the new business plans and the estimation of realization of these assets, taking into account the latest regulatory changes. As a result of this analysis, deferred tax assets amounting to 101 million euros were derecognized, corresponding to the tax group in Spain (see Note 25). Throughout the crisis, in order to support the communities in which the Group operates, Telefónica implemented measures aimed at: • Protecting the health and safety of its employees and customers. • Providing critical infrastructure and technology services to governments and health authorities. • Donating goods and services to hospitals and vulnerable customers. • Making the Group's high-tech buildings available for public use (O2 Arena in London and O2 Tower in Munich). • Providing customers with free mobile data and additional entertainment services at no extra cost. • Accelerating payments to suppliers with liquidity problems and offering flexible payments terms. • Maintaining the 2020 dividend for shareholders; with enhancing financial flexibility with a voluntary scrip dividend (see Note 17). On the other hand, the governments of the different countries where the Group operates established temporary regulatory measures that affected the telecommunications sector such as ban on suspending service due to debt and suspension of number portability operations (see "Regulation on COVID-19" in Appendix VI). In addition, in most countries Telefónica operators agreed with the governments to offer packages of minimum connectivity at a reduced or free price, along with free access to specific platforms (health, emergency services, education, information). Telefónica's state-of-the-art networks enabled the Group to facilitate record growth in traffic driven by remote working and increased consumption of entertainment services while maintaining high levels of customer experience and service quality. Agreement between Telefónica and Liberty Global plc to combine their operating businesses in the UK On May 7, 2020, Telefónica reached an agreement with Liberty Global plc to combine into a 50-50 joint venture their operating businesses in the UK (O2 Holdings Ltd. and Virgin Media UK, respectively). The transaction is expected to deliver significant value to Telefónica, which expects to receive 5.7 billion pounds sterling of proceeds in total (calculated at the date of the agreement and subject to customary adjustments in this type of transactions), after an equalization payment by Liberty Global of 2.5 billion pounds sterling. This move is fully aligned with the Telefonica strategy to focus on improving market positioning in its core markets. It will enable Telefónica to reinforce its presence and continuity in this market through the creation of an integrated communications provider in the United Kingdom that will offer their customers a convergent value proposition. Accordingly, Telefónica United Kingdom remains as a reportable segment (see Note 4). The transaction is subject to regulatory approvals and other customary closing conditions. As of the date of this Annual Report, such conditions have not been satisfied. The companies included in the transaction have been recognized as a disposal group held for sale (see Note 3m). Therefore, the consolidated assets and liabilities have been reclassified under ‘‘Non-current assets and disposal groups held for sale’’ and ‘‘Liabilities associated with non-current assets and disposal groups held for sale’’, respectively, in the consolidated statement of financial position at December 31, 2020 (see Note 30). Agreement between Telxius Telecom and American Tower Corporation for the sale of its telecommunications towers divisions in Europe and Latin America On January 13, 2021 Telxius Telecom, S.A. (a company of the Telefónica Group minority-owned, directly or indirectly, by KKR and Pontegadea), signed an agreement with American Tower Corporation ("ATC") for the sale of its telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (Brazil, Peru, Chile and Argentina), for an amount of 7.7 billion euros, payable in cash. The agreement establishes the sale of a number of approximately 30,722 telecommunication tower sites and comprises two separate and independent transactions (on one hand, the Europe business and, on the other hand, the Latin American business), setting the respective closings once the corresponding regulatory authorizations have been obtained. The agreement include the transfer to ATC of the towers that Telxius agreed to acquire from Telefónica Germany GmbH & Co. under the agreement signed on June 8, 2020, including the towers acquired in the first phase on September 1, 2020 and the towers that will be acquired in the second phase by August 2021 (see Note 4). In accordance with IFRS 5, the companies of the Telxius Group included in the transaction have been recognized as a disposal group held for sale in the consolidated statement of financial position at December 31, 2020 (see Note 30). The non-current assets will cease to be amortized and depreciated for accounting purposes from December 31, 2020. Acquisition of a 50% stake in Prosegur’s alarm business in Spain On September 17, 2019 Telefónica, S.A. reached an agreement with Prosegur Compañía de Seguridad, S.A. (“Prosegur”) for the acquisition of a 50% stake in Prosegur's alarm business in Spain, with the objective of developing said business through the combination of the complementary capabilities of both companies. On February 28, 2020, after obtaining the relevant regulatory approvals, Telefónica de Contenidos, S.A.U. acquired 50% of the shares in Prosegur Alarmas España, S.L. The price was paid with 49,545,262 shares in Telefónica (see Note 17), with a valuation amounting to 266 million euros at the date of the transaction. This investment has been registered in the line of "Investments accounted for by the equity method" of the statement of financial position (see Note 10). Impact of adopting IFRS 16 Leases On January 1, 2019 IFRS 16 Leases ("IFRS 16") became effective, resulting in changes in the accounting policies applied to lease contracts in prior periods. IFRS 16 requires lessees to recognize assets and liabilities arising from lease contracts in the statement of financial position. A lessee may elect not to apply the general requirements to short-term leases and leases of low-value assets. The Group acts as a lessee on a very significant number of lease agreements over different assets. This mainly include third-party towers, circuits, office buildings and stores and land where its own towers are located. A significant portion of these contracts was accounted for as operating lease under the previous lease standard, with lease expenses being recognized on a straight-line basis over the contract term. The implementation of IFRS 16 in the Group was highly complex due to factors such as the high number of contracts affected and the diversity of data source systems, as well as the need to make certain estimates. These estimates included 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, assumptions are required to calculate the discount rate, which is based mainly on the incremental borrowing rate of interest for the estimated term. 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 recognized at the date of initial application. The Group adopted the latter transition method; therefore, the Group recognized the cumulative effect of initial application as an adjustment to equity at the transition date, January 1, 2019, amounting to 16 million euros (see Note 17). Consequently, the 2018 information presented for comparative purposes were not restated (i.e., it is prepared and presented in accordance with the accounting standard effective at that moment: under IAS 17 Leases). Moreover, the Group applied 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 identified as leases under the previous accounting standard. The modifications introduced by IFRS 16 had a significant impact on the group's financial statements since the date of adoption, as shown below: Millions of euros Impact of the first application Opening balance of rights of use at January 1, 2019 (Note 9) 7,870 Impact of IFRS 16 on rights of use of companies held for sale at December 31, 2018 (1) 155 Reclassification of property, plant and equipment deriving from finance leases under IAS 17 (Note 8) (249) Reclassification of advance payments of lease contracts in force at December 31, 2018 (178) Accounts receivable for subleases 18 Impact of IFRS 16 on assets at transition date 7,616 Opening balance of lease liabilities at January 1, 2019 (Note 20) 7,705 Impact of IFRS 16 on lease liabilities of companies held for sale at December 31, 2018 (1) 152 Reclassification of finance lease liabilities under IAS 17 at December 31, 2018 (201) Reclassification of other liabilities at December 31, 2018 (56) Impact of IFRS 16 on liabilities at transition date 7,600 Impact of IFRS 16 on equity at transition date (Note 17) 16 (1) Antares, Telefónica Móviles Guatemala and Telefónica Móviles El Salvador (see Note 30) . Following is a summary of estimated impacts of IFRS 16 on the Group’s consolidated income statement in 2019, presented on a voluntary basis: Millions of euros 2019 INCOME STATEMENT IFRS 16 IAS 17 IFRS 16 Impact Revenues 48,422 48,422 — Other income 2,842 3,032 (190) Supplies (13,635) (14,490) 855 Personnel expenses (8,066) (8,070) 4 Other expenses (14,444) (15,284) 840 Depreciation and amortization (10,582) (8,950) (1,632) OPERATING INCOME 4,537 4,660 (123) Share of income (loss) of investments accounted for by the equity method 13 13 — Finance income 842 842 — Exchange gains 2,461 2,449 12 Finance costs (2,795) (2,599) (196) Exchange losses (2,340) (2,310) (30) Net financial expense (1,832) (1,618) (214) PROFIT BEFORE TAX 2,718 3,055 (337) Corporate income tax (1,054) (1,104) 50 PROFIT FOR THE YEAR 1,664 1,951 (287) Attributable to equity holders of the Parent 1,142 1,383 (241) Attributable to non-controlling interests 522 568 (46) Basic and diluted earnings per share attributable to equity holders of the parent (euros) 0.16 0.20 (0.05) The impact in Other income is due to the different approach under IFRS 16 to determine the gain on sale and leaseback transactions (see Note 20). In addition, the statement of cash flows is also impacted by IFRS 16. The main impact is the recording within the “cash flow from financing activities” of principal payments for lease contracts amounting to 1,787 and 1,518 million euros in 2020 and 2019, respectively (see Note 20), as well as the recording of interests related to said contracts under the heading “interest payments and other financial expenses” amounting to 179 million euros and 185 million euros in 2020 and 2019, respectively (see Note 20). Until the entry into force of IFRS 16 the operating leases payments were recorded under "Cash paid from operations". Payments for low cost and short-term leases continue to be recorded under "Cash received from operations" (see Note 9). Translation of Telefónica Venezolana’s financial statements Venezuela has been considered a hyperinflationary economy since 2009. We regularly review 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. On August 20, 2018 Venezuela introduced the Bolivar Soberano (VES), which replaced the Bolívar Fuerte (VEF) removing five zeros (1 VES = 100,000 VEF). In light of the economic environment and in the absence of official rates that are representative of the situation in Venezuela, the Group maintained its policy for estimating an exchange rate to match the progression of inflation in Venezuela and attempts to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements more accurately (hereinafter, synthetic exchange rate). At December 31, 2020, the synthetic exchange rate was calculated considering the inflation rates that were published (2,959.8% from January to December 2020). The inflation rate published for January to December 2019 was 9,585.5%. Thus, the exchange rate used to translate the financial statements of the Venezuelan subsidiaries as of December 31, 2020 amounts to 2,094,405 VES/USD (68,448 VES/USD as of December 31, 2019). The official reference exchange rate at December 31, 2020 was 1,107,199 VES/USD (46,621 VES/USD at December 31, 2019). The translation of the financial statements of Telefónica Venezolana in 2020 had a negative impact in retained earnings amounting to 26 million euros (-212 million euros in 2019). The following table presents the figures of Telefónica Venezolana in certain items of the consolidated income statement, the consolidated statement of cash flows and the consolidated statement of financial position of the Telefónica Group, by applying the synthetic exchange rate: Millions of euros 2020 2019 2018 Revenues 72 79 18 Depreciation and amortization (13) (10) (67) Operating income (13) 7 (64) Net financial expense (1) 24 63 216 Profit before tax 37 70 152 Corporate income tax (2) (9) 3 (186) Result for the year 28 73 (34) Net cash flow provided by operating activities (1) 14 7 Capital expenditures (CapEx) 17 20 2 Non-current assets 51 43 238 (1) Mainly resulting from the hyperinflation adjustment to the net monetary position and the exchange differences arising from foreign currency items held by Telefónica Venezolana. (2) Mainly deferred tax recognized for the inflation adjustments of the net assets, which are not deductible according to the present tax regime in Venezuela. Change in accounting policy for the presentation of hyperinflation effects in equity Since 2018, the Group includes all the equity effects derived from hyperinflation, i.e.: (a) the restatement for inflation of the financial statements of the Group companies operating in hyperinflationary economies, and (b) the effects of translating their respective financial statements into euros using the exchange rate at the end of the period, in a single line item under the heading Retained Earnings. In March 2020, the International Financial Reporting Standards Committee (IFRIC) released its interpretation in this regard, indicating that these impacts should be recorded either separately, the former in Retained Earnings and the latter in Translation Differences, or jointly recognized as Translation Differences under the heading Other Comprehensive Income. As a result, in 2020 the Group adopted this presentation policy and now presents the equity effects of hyperinflation under Translation Differences, within Other Comprehensive Income, rather than under the heading Retained Earnings. The consolidated net equity is not modified by this change in presentation. In accordance with IAS 8, financial information from previous years presented for comparative purposes has been restated so that the information is comparable. Consequently, the Retained Earnings heading no longer includes the cumulative effects arising from hyperinflation in Venezuela and Argentina, which have been reclassified to Translation Differences amounting to 5,664 million euros at 31 December 2019 and 5,406 million euros at 31 December 2018. As this change in accounting policy is a reclassification within equity, the basic and diluted earnings per share figures are not affected in any of the periods presented. Sale of Antares On November 8, 2018, Telefónica reached an agreement with Grupo Catalana Occidente for the sale of 100% of Seguros de Vida y Pensiones Antares, S.A. for a total amount of 161 million euros. At December 31, 2018, the assets corresponding to Antares were classified as non-current assets and disposal groups held for sale and the liabilities as liabilities associated with non-current assets and disposal groups held for sale, amounting to 793 million euros and 661 million euros, respectively. On February 14, 2019, after obtaining the relevant regulatory approvals, the sale was concluded. This transaction generated a gain in the consolidated income statement of 2019 amounting to 98 million euros, under "Other income". In addition, it involved an equity reclassification between "Actuarial gains and losses and impact of limit on assets for defined benefit pension plans" and "Retained earnings" amounting to 89 million euros. Sale of Telefónica Móviles Guatemala and Telefónica Móviles El Salvador On January 24, 2019, Telefónica Centroamérica Inversiones, S.L. (60% of which is owned, directly and indirectly, by Telefónica and 40% of which is owned by Corporación Multi Inversiones), reached an agreement with América Móvil, S.A.B. of C.V. for the sale of the entire share capital of Telefónica Móviles Guatemala, S.A. and 99.3% of Telefónica Móviles El Salvador, S.A. de C.V. The aggregate consideration for both companies (enterprise value) was 648 million US dollars (approximately 570 million euros at the exchange rate on the date of the agreement, 293 million euros of which corresponded to Telefónica Móviles Guatemala and 277 million euros of which corresponded to Telefónica Móviles El Salvador). The closing of the sale of Telefónica Móviles Guatemala took place the same day. This transaction did not have a significant impact in the consolidated financial statements of 2019. Due to the exclusion of Telefónica Móviles Guatemala from the scope of consolidation, the Equity attributable to non-controlling interests decreased by 114 million euros. The closing of the Telefónica El Salvador sale was pending approval by the competition authority. In 2020, Telefónica and América Móvil, S.A.B. of C.V. terminated the purchase agreement, after careful consideration by both parties of the conditions to obtaining regulatory approval established by the Superintendencia de Competencia. As a consequence, Telefónica El Salvador ceased to be classified as disposal group held for sale (see Note 30). Sale of Telefonía Celular de Nicaragua, Telefónica Móviles Panamá and Telefónica de Costa Rica On February 20, 2019 Telefónica reached an agreement with Millicom International Cellular, S.A. for the sale of the entire share capital of Telefónica de Costa Rica TC, S.A., and for the sale by Telefónica Centroamérica Inversiones, S.L. of the entire share capital of Telefónica Móviles Panamá, S.A. and Telefonía Celular de Nicaragua, S.A. The aggregate amount of the transaction (enterprise value) for all the companies was 1,650 million US dollars (approximately 1,455 million euros at the exchange rate of the date of the agreement). On May 16, 2019, after obtaining the relevant regulatory approvals, Telefónica Centroamérica de Inversiones, S.L. transferred the entire share capital of Telefonía Celular de Nicaragua, S.A. to Millicom International Cellular, S.A. for an amount of 437 million US dollars, approximately 390 million euros at that date. The impact of this transaction in the consolidated income statement for 2019 amounted to 172 million euros, under "Other income" (Note 26). On August 29, 2019, after obtaining the relevant regulatory approvals, the entire share capital of Telefónica Moviles Panamá, S.A. was transferred to Cable Onda S.A. (subsidiary of Millicom International Cellular, S.A.), for an amount of 594 million US dollars, approximately 536 million euros at that date. The impact of this transaction in the consolidated income statement of 2019 amounted to 190 million euros, under "Other income" (Note 26). As a result of the exclusion of Telefonía Celular de Nicaragua, S.A. and Telefónica Móviles Panamá, S.A. from the scope of consolidation, the Equity attributable to non-controlling interests decreased by 112 million euros and 188 million euros, respectively. In March 2020, Telefónica informed Millicom that, once the pertinent regulatory authorizations had been obtained and all the other conditions established in the aforementioned agreement for the execution of the sale had been completed, the execution of the contract and the closing of the transaction should be in April 2020. Millicom expressed its refusal to proceed with the closing, arguing that one of the Costa Rican administrative authorities had not issued the appropriate authorization. Telefónica filed a lawsuit against Millicom before the New York Supreme Court, considering that Millicom had breached the terms and conditions established in the sale contract, demanding compensation for all damages that this unjustified breach could cause to Telefónica (see Note 29.a). On July 30, 2020, Telefónica reached an agreement with Liberty Latin America Ltd. for the sale of the entire share capital of Telefónica de Costa Rica TC, S.A. The enterprise value of Telefónica Costa Rica is 500 million U.S. dollars (approximately 425 million euros at exchange rate of the date of the agreement). At the date of issue of these consolidated financial statements, the closing of the transaction is subject to the pertinent regulatory approvals. At December 31, 2020 Telefónica Costa Rica maintained its classification as disposal group held for sale (see Note 30). Individual Suspension Plan On September 27, 2019, Telefónica Spain signed the II Collective Agreement of Related Companies (CEV), wholly backed by the largest labor unions. The overall resources plan that was approved is based on: • Evolution of the Collective Agreement of Related Companies, in order to have a framework of employment stability with greater flexibility and continue advancing on work-life balance and diversity, including, among other proposals, an Individual Suspension Plan which is entirely voluntary for 2019 (with the same conditions as the previous one). • Training, reskilling and upskilling plan that enables improving skills and taking advantage of the potential of the current staff, focusing on new business needs (digitization, robotization and processes automation). The present value of the payment flows of the Plan, together with the update of the estimates of the previous plan and the provision for the training plan resulted in expenses amounting to 1,732 million euros before taxes, reflected in "Personnel expenses" of the accompanying consolidated income statement for 2019 (see Note 24). The update of the provision of the plan included in the previous collective agreement, together with the updated termination plans, entailed an expense of 297 million euros in the 2018 consolidated income statement (see Note 24). Sale of a portfolio of data centers businesses On May 8, 2019, Telefónica reached an agreement for the sale of a portfolio of 11 data centers located in seven jurisdictions (Spain, Brazil, USA, Mexico, Peru, Chile and Argentina) with a company controlled by Asterion Industrial Partners SGEIC (currently, Nabiax, S.A.) for a total amount of 550 million euros. The total capital gain reflected in "Other income" generated in 2019 for the sale of these businesses amounted to 213 million euros (Note 26). Transformation of the operating model of Telefónica México On November 21, 2019 Pegaso PCS, S.A. de C.V. (Telefónica México) and AT&T Comunicaciones Digitales, S. de R.L. de C.V. (AT&T Mexico) entered into a Wholesale Access Services Agreement (see Note 29.c), under which AT&T Mexico will provide wholesale wireless access to Telefónica México on 3G, 4G and any other future technology available in Mexico. The Wholesale Agreement will be of a minimum duration of eight years, renewable for additional consecutive periods of three years. Such Wholesale Agreement established a gradual migration of Telefónica Mexico’s traffic to AT&T Mexico's access network over the first three years of the agreement. As such migration is carried out, Telefónica México’s wireless access infrastructure will be turned off and, consequently, Telefónica México will discontinue using the licensed spectrum used in the past to operate its network. The main impacts of the transformation of the operating model of Telefónica México in 2019 consolidated financial statements were as follows: • A provision amounting to 167 million euros with a counterparty in Other expenses (see Note 26) due to the impact in certain pre-existing service contracts (energy supply, access to fiber optic networks and others), and additional restructuring expenses amounting to 44 million euros. • A net loss amounting to 27 million euros, due to the partial return of spectrum licenses, -123 million euros corresponding to fully paid licenses (see Notes 6 and 26), and +95 million euros corresponding to licenses with deferred payments (associated debt) that were released (see Note 26). • Accelerated depreciation of property, plant and equipment and amortization of rights of use due to the reduction of the useful lives of certain assets, with an impact of 36 million euros in the 2019 consolidated income statement. • Reduction of payables for spectrum acquisition amounting to 508 million euros due to the cancelation of the debt associated with the licenses that were returned (see Note 21). Additionally, in 2019 Telefónica Mexico reversed deferred tax assets with a counterparty in Corporate income tax, amounting to 454 million euros (see Note 25), due to the new estimations regarding the time horizon in which the Group expects to recover the assets. In 2018 Telefónica Mexico had reversed deferred tax assets amounting to 327 million euros. 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 1 SP (City) 2 SP (Interior) 2' SP - towns of sector 33 of the GPLG 3 RJ and ES 4 MG 4' MG - towns of sector 3 of the GPLG 5 PR and 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 and TO 7' GO - towns of sector 25 of the GPLG 7'' MS - towns of sector 22 of the GPLG 8 AM, AP, MA, PA and RR 9 BA and SE 10 AL, CE, PB, PE, PI and 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, Comendad |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Hyperinflationary economies | a) Hyperinflationary economies Venezuela has been considered 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 2,959.8%, 9,585.5% and 2,106,600.6% for 2020, 2019 and 2018, 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 in the consolidated financial statements, amounting to 2,094,405 bolivars per U.S. dollar (synthetic exchange rate, see Note 2), 68,448 bolivars per U.S. dollar (synthetic exchange rate) and 7,608 bolivars per U.S. dollar (synthetic exchange rate) as of December 31, 2020, 2019 and 2018, respectively. In 2018 Argentina became a hyperinflationary economy (see Note 2). In order to restate its financial statements, the Company uses the series of indices defined by resolution JG No. 539/18 issued by the Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE), based on the National Consumer Price Index (IPC) published by the Instituto Nacional de Estadística y Censos (INDEC) of the Argentine Republic and the Wholesale Internal Price Index (IPIM) published by FACPCE. The cumulative index at December 31, 2020, 2019 and 2018 is 385.9%, 283.4% and 184.9%, respectively, while on an annual basis the index for 2020 is 36% (53% and 48% in 2019 and 2018, respectively). The exchange rate used to translate inflation-adjusted items denominated in Argentine pesos in the 2020 financial statements is the closing exchange rate as of December 31, 2020 which was 103.23 Argentine pesos per euro (67.26 and 43.30 Argentine pesos per euro at December 31, 2019 and 2018, respectively). |
Translation methodology | b) Translation methodology The income statements and statements of cash flows of the Telefónica Group’s foreign subsidiaries (except Venezuela and Argentina) 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 at the least, 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 these types 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 and 14 years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). two |
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, provided that the result obtained is the same that would be obtained by discounting pre-tax cash flows at a pre-tax discount rate. |
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 fulfillment of the arrangement is dependent on the use of a specific asset and the agreement conveys a right to the use of the asset. At the inception date of the lease (i.e. the date when the underlying asset is available for use), a lessee recognizes a right of use asset that represents the right to use the underlying asset over the term of the lease, and a lease liability for the present value of the lease payments payable over the lease term – discounted using the incremental borrowing rate at the start date of the lease. Rights of use assets are measured at cost, less accumulated depreciation and impairment losses, and are adjusted for any remeasurement of lease liabilities. The cost of rights of use assets includes the amount of initial direct costs incurred and lease payments made before the commencement date less incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the estimated useful life of the underlying asset and the lease term. Lease payments include fixed payments (including in-substance fixed payments) less any lease incentive receivable, variable lease payments that depend on an index or rate, and amounts expected to be paid as residual value guarantees. Similarly, the measurement of the lease liability includes the exercise price of a purchase option, if the lessee is reasonably certain to exercise that option, and payments of penalties for early termination, if the lease term reflects the lessee exercising such cancellation option. After the commencement date, the amount of the lease liabilities is increased to reflect the accrual of interest and reduced for the payments made. In addition to this, the carrying amount of the lease liability is remeasured in certain cases, such as changes in the lease term, changes in future lease payments resulting from a change in an index or rate used to determine those payments. The amount of such remeasurement is generally recognized against an adjustment to the right-of-use asset. The Group uses the "low value" asset lease recognition exemption for office equipment and the short-term lease recognition exemption for all leases with a term of 12 months or less. Therefore, lease payments in such cases are recognized as an expense on a straight-line basis over the lease term. The Group recognizes non-lease components separately from lease components for those classes of assets in which non-lease components are significant with respect to the total value of the arrangement. The Group determines the lease term as the non-cancellable term of the contract, together with any period covered by an extension (or termination) option whose exercise is discretionary for the Group, if there is reasonable certainty that it will be exercised (or it will not be exercised). In its assessment, the Group considers all available information by asset class in the industry and evaluates all relevant factors (technology, regulation, competition, business model) that create an economic incentive to exercise or not a renewal/cancellation option. In particular, the Group takes into consideration the time horizon of the strategic planning of its operations. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is within its control that may affect its ability to exercise (or not to exercise) an option to extend or terminate (for example, a change in business strategy). |
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 assets | Financial Assets 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. |
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 flow hedges, which are highly effective, are recognized in equity. The ineffective portion is recognized immediately in the income statement. Fair value changes recognized in equity arising 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. |
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. Inventories include audio-visual rights which will generally be consumed in a period of less than twelve months, and advanced payments to suppliers for future rights, as well as own content whose production cycle will in no case exceed thirty-six months. The cost of film, documentary, short film and series rights acquired from third parties is charged to the income statement on a straight-line basis from the time of first broadcasting or release until the completion of the rights. Broadcasting rights to football and motor sports events, including their inherent production costs, are charged to the income statement on a straight-line basis over twelve months from the start of the season, while rights to other premium sports are charged over the period of the competition. All other sports rights are recognized in the income statement upon first broadcast. In-house produced programs and series and program titles are charged at the time of their broadcast or up to thirty-six months from the date of release, depending on their nature and broadcasting strategy. The cost of in-house productions that the Group expects to recover through sale to third parties is recognized as an intangible asset. |
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. |
Revenues | l) Revenues 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 fixed and wireless traffic is recognized as revenue as service is provided. For prepaid calls, the amount of unused traffic generates deferred revenues presented in Contractual liabilities on the statement of financial position. 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 the income statement as they are consumed. Interconnection revenues from fixed-wireless and wireless-fixed 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 fixed, wireless, Internet and television businesses it is determined whether it is necessary to identify the separate performance obligations and apply the corresponding revenue recognition policy to each one. Total package revenues are allocated among the identified performance obligations based on their respective standalone selling prices. As connection or initial activation fees, or upfront non-refundable fees, are not separately identifiable performance obligations in these types of packages, any consideration received from the customer for these items is allocated to the remaining elements. When the customer has a right of return, the agreed consideration is considered variable. The Group estimates the amount of variable consideration to which it is entitled using the expected value method (probability-weighted possible amounts), considering all historical, current and forecast information that is reasonably available, and only to the extent that it determines that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. |
Expenses | l) Revenues 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 fixed and wireless traffic is recognized as revenue as service is provided. For prepaid calls, the amount of unused traffic generates deferred revenues presented in Contractual liabilities on the statement of financial position. 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 the income statement as they are consumed. Interconnection revenues from fixed-wireless and wireless-fixed 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 fixed, wireless, Internet and television businesses it is determined whether it is necessary to identify the separate performance obligations and apply the corresponding revenue recognition policy to each one. Total package revenues are allocated among the identified performance obligations based on their respective standalone selling prices. As connection or initial activation fees, or upfront non-refundable fees, are not separately identifiable performance obligations in these types of packages, any consideration received from the customer for these items is allocated to the remaining elements. When the customer has a right of return, the agreed consideration is considered variable. The Group estimates the amount of variable consideration to which it is entitled using the expected value method (probability-weighted possible amounts), considering all historical, current and forecast information that is reasonably available, and only to the extent that it determines that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. |
Non-current assets held for sale | m) Non-current assets held for sale The Group classifies non-current assets and disposal groups as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. Non-current assets and disposal groups classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell and are presented separately in the statement of financial position as “Non-current assets and disposal groups held for sale” and “Liabilities associated with non-current assets and disposal groups held for sale”. Once classified as held for sale property, plant and equipment and intangible assets (including right-of-use assets) are no longer depreciated or amortized. The criteria for held for sale classification is regarded as met only when the Group determines the sale to be highly probable: management is committed to a decision to sell and all actions required to complete the sale indicate that it is unlikely that significant changes to the sale will be made or that the decision will be withdrawn. In addition, the asset or disposal group is available for immediate sale in its present condition (subject only to terms that are usual and customary for such transactions) and the sale is expected to be completed within one year from the date of the classification. |
Use of estimates | n) 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. As mentioned in Note 2 to the Consolidated Financial Statements, COVID-19 has changed the macroeconomic landscape and increased the level of uncertainty about the future economic outlook. This represents a significant challenge for management when making estimates. While the specific areas of significant judgement have not changed, the impact of COVID‑19 has resulted in the application of further judgement within those areas. In addition to this, the associated impacts of COVID 19 are highly dependent on variables that are difficult to predict. Given the evolving nature of the pandemic and the limited recent experience on its economic and social consequences, changes to estimates may need to be made. 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 analysis are disclosed for the most relevant situations (see Notes 7 and 24). 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 on a regular basis 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, the outcome of underway tax proceedings or unforeseen future 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 revenues are allocated among the identified elements based on their respective standalone selling prices. Determining standalone selling prices for each identified element requires estimates that are complex due to the nature of the business. A change in estimates of standalone selling prices could affect the apportionment of revenue among the elements and, as a result, the timing of recognition of revenues. Leases Accounting for rights and obligations as a lessee under a lease contract requires the use of estimations to determine the lease term in contracts that include extension options or early termination options. Determining the lease term involves making estimates over the time horizon of the Group's strategic planning process with respect to relevant factors such as expected technological progress, possible regulatory developments, market and competition trends or changes in the business model. The assumptions regarding these variables involve a significant degree of judgment to the extent that the timing and nature of future changes are difficult to anticipate. Due to the uncertainties inherent to these estimates, changes in the assumptions made in respect of uncertain matters when determining the lease term of a lease contract may have an impact on the amounts of the right of use assets and lease liabilities recognized on the basis of the estimates made by the Group. Exchange rate and inflation rates used to translate the financial statements of our Venezuelan subsidiaries The Group reviews, on a regular basis, the economic conditions in Venezuela and the specific circumstances of its Venezuelan operations. In light of the worsening of the economic and political crisis in Venezuela and in the absence of official rates that are representative of the situation in the country, at December 31, 2020 the Group maintains its policy to estimate an exchange rate that matches the progression of inflation in Venezuela and reflects 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 Venezuelan bolivar-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 Venezuelan bolivar-denominated assets (liabilities). |
New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) | The modifications introduced by IFRS 16 had a significant impact on the group's financial statements since the date of adoption, as shown below: Millions of euros Impact of the first application Opening balance of rights of use at January 1, 2019 (Note 9) 7,870 Impact of IFRS 16 on rights of use of companies held for sale at December 31, 2018 (1) 155 Reclassification of property, plant and equipment deriving from finance leases under IAS 17 (Note 8) (249) Reclassification of advance payments of lease contracts in force at December 31, 2018 (178) Accounts receivable for subleases 18 Impact of IFRS 16 on assets at transition date 7,616 Opening balance of lease liabilities at January 1, 2019 (Note 20) 7,705 Impact of IFRS 16 on lease liabilities of companies held for sale at December 31, 2018 (1) 152 Reclassification of finance lease liabilities under IAS 17 at December 31, 2018 (201) Reclassification of other liabilities at December 31, 2018 (56) Impact of IFRS 16 on liabilities at transition date 7,600 Impact of IFRS 16 on equity at transition date (Note 17) 16 (1) Antares, Telefónica Móviles Guatemala and Telefónica Móviles El Salvador (see Note 30) Following is a summary of estimated impacts of IFRS 16 on the Group’s consolidated income statement in 2019, presented on a voluntary basis: Millions of euros 2019 INCOME STATEMENT IFRS 16 IAS 17 IFRS 16 Impact Revenues 48,422 48,422 — Other income 2,842 3,032 (190) Supplies (13,635) (14,490) 855 Personnel expenses (8,066) (8,070) 4 Other expenses (14,444) (15,284) 840 Depreciation and amortization (10,582) (8,950) (1,632) OPERATING INCOME 4,537 4,660 (123) Share of income (loss) of investments accounted for by the equity method 13 13 — Finance income 842 842 — Exchange gains 2,461 2,449 12 Finance costs (2,795) (2,599) (196) Exchange losses (2,340) (2,310) (30) Net financial expense (1,832) (1,618) (214) PROFIT BEFORE TAX 2,718 3,055 (337) Corporate income tax (1,054) (1,104) 50 PROFIT FOR THE YEAR 1,664 1,951 (287) Attributable to equity holders of the Parent 1,142 1,383 (241) Attributable to non-controlling interests 522 568 (46) Basic and diluted earnings per share attributable to equity holders of the parent (euros) 0.16 0.20 (0.05) o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2020 are consistent with those used in the preparation of the Group’s consolidated annual financial statements for the year ended December 31, 2019, with the exception of the following new standards and amendments to existing standards issued by the IASB and adopted by the European Union for application in Europe, which are mandatory for annual periods beginning on or after January 1, 2020: • Amendments to IFRS 3: Definition of a Business The amendment to IFRS 3 clarifies that to be considered a business, an integrated set of activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. The definition of the term ‘outputs’ is amended to focus on goods and services provided to customers, generating investment income and other income, and it excludes returns in the form of lower costs and other economic benefits. The Group's current approach is consistent with these requirements, so the application of these amendments did not have a significant impact on the Group's financial position or results in the period. • Amendments to IFRS 7, IFRS 9 and IAS 39: Interest Rate Benchmark Reform The amendments to IFRS 9 and IAS 39 Financial Instruments: Recognition and Measurement provide a number of reliefs, which apply to all hedging relationships that are directly affected by interest rate benchmark reform. A hedging relationship is affected if the reform gives rise to uncertainties about the timing and or amount of benchmark-based cash flows of the hedged item or the hedging instrument. This amendment did not have a significant impact on the Group's financial position or results in the period. • Amendments to IAS 1 and IAS 8: Definition of Material The amendments provide a consistent definition of materiality throughout International Financial Reporting Standards and the Conceptual Framework for Financial Reporting, clarify when information is material and incorporate some of the guidance in IAS 1 about immaterial information. In particular, the amendments clarify: (i) that the reference to obscuring information addresses situations in which the effect is similar to omitting or misstating that information, and that an entity assesses materiality in the context of the financial statements as a whole, and (ii) the meaning of ‘primary users of general purpose financial statements’ to whom those financial statements are directed, by defining them as ‘existing and potential investors, lenders and other creditors’ that must rely on general purpose financial statements for much of the financial information they need. The Group's current practices are in line with these criteria, so the application of these amendments did not have an impact on the Group's financial position or results in the period, nor are they expected to do so in the future. • Conceptual Framework for Financial Reporting The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. The revised Conceptual Framework includes some new concepts, provides updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts, such as removing the probability threshold for recognition and adding guidance on derecognition, or adding guidance on different measurement basis. No changes were made to any of the current accounting standards. The Group’s accounting policies are still appropriate under the revised Framework, so these amendments had no impact on the Group's financial position or results in the period. • Amendments to IFRS 16: Covid19-related Rent Concessions The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions (such as rent holidays or rent reductions for a period of time) arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification and therefore account for any change in lease payments resulting from the Covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change were not a lease modification. The amendment applies to annual reporting periods beginning on or after 1 June 2020, with earlier application permitted. In accordance with EU regulations, companies shall apply the amendment, at the latest, as from 1 June 2020 for financial years starting on or after 1 January 2020. This amendment had no impact on the consolidated financial statements of the Group. New standards and amendments to standards issued but not effected as of December 31, 2020. At the date of preparation of the consolidated financial statements, the following IFRS and amendments to existing standards had been published, but their application is not mandatory: Standards and amendments Mandatory application: annual periods beginning on or after Amendments to IFRS 4 Deferral of IFRS 9 January 1, 2021 Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2 January 1, 2021 Amendments to IAS 37 Cost of Fulfilling a Contract January 1, 2022 Amendments to IFRS 3 Reference to the Conceptual Framework January 1, 2022 Annual Improvements 2018-2020 Cycle January 1, 2022 Amendments to IAS 16 Proceeds before Intended Use January 1, 2022 Amendments to IAS 1 Classification of Liabilities as Current or Non-current January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 The initial application of IFRS 9 Financial instruments and IFRS 15 Revenue from contracts with customers, effective as of January 1, 2018, had a net impact on total equity amounting to -165 million euros and 743 million euros, respectively in 2018, with the following detail: Millions of euros IFRS 9 IFRS 15 Total Gross impact on equity (221) 1,006 785 Tax effect 56 (263) (207) Impact on equity (165) 743 578 Attributable to equity holders (142) 654 512 Attributable to non-controlling interest (23) 89 66 |
Basis of Presentation of the _2
Basis of Presentation of the Consolidated Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Schedule of Impact of Adoption of New IFRS Guidance | The modifications introduced by IFRS 16 had a significant impact on the group's financial statements since the date of adoption, as shown below: Millions of euros Impact of the first application Opening balance of rights of use at January 1, 2019 (Note 9) 7,870 Impact of IFRS 16 on rights of use of companies held for sale at December 31, 2018 (1) 155 Reclassification of property, plant and equipment deriving from finance leases under IAS 17 (Note 8) (249) Reclassification of advance payments of lease contracts in force at December 31, 2018 (178) Accounts receivable for subleases 18 Impact of IFRS 16 on assets at transition date 7,616 Opening balance of lease liabilities at January 1, 2019 (Note 20) 7,705 Impact of IFRS 16 on lease liabilities of companies held for sale at December 31, 2018 (1) 152 Reclassification of finance lease liabilities under IAS 17 at December 31, 2018 (201) Reclassification of other liabilities at December 31, 2018 (56) Impact of IFRS 16 on liabilities at transition date 7,600 Impact of IFRS 16 on equity at transition date (Note 17) 16 (1) Antares, Telefónica Móviles Guatemala and Telefónica Móviles El Salvador (see Note 30) Following is a summary of estimated impacts of IFRS 16 on the Group’s consolidated income statement in 2019, presented on a voluntary basis: Millions of euros 2019 INCOME STATEMENT IFRS 16 IAS 17 IFRS 16 Impact Revenues 48,422 48,422 — Other income 2,842 3,032 (190) Supplies (13,635) (14,490) 855 Personnel expenses (8,066) (8,070) 4 Other expenses (14,444) (15,284) 840 Depreciation and amortization (10,582) (8,950) (1,632) OPERATING INCOME 4,537 4,660 (123) Share of income (loss) of investments accounted for by the equity method 13 13 — Finance income 842 842 — Exchange gains 2,461 2,449 12 Finance costs (2,795) (2,599) (196) Exchange losses (2,340) (2,310) (30) Net financial expense (1,832) (1,618) (214) PROFIT BEFORE TAX 2,718 3,055 (337) Corporate income tax (1,054) (1,104) 50 PROFIT FOR THE YEAR 1,664 1,951 (287) Attributable to equity holders of the Parent 1,142 1,383 (241) Attributable to non-controlling interests 522 568 (46) Basic and diluted earnings per share attributable to equity holders of the parent (euros) 0.16 0.20 (0.05) o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2020 are consistent with those used in the preparation of the Group’s consolidated annual financial statements for the year ended December 31, 2019, with the exception of the following new standards and amendments to existing standards issued by the IASB and adopted by the European Union for application in Europe, which are mandatory for annual periods beginning on or after January 1, 2020: • Amendments to IFRS 3: Definition of a Business The amendment to IFRS 3 clarifies that to be considered a business, an integrated set of activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. The definition of the term ‘outputs’ is amended to focus on goods and services provided to customers, generating investment income and other income, and it excludes returns in the form of lower costs and other economic benefits. The Group's current approach is consistent with these requirements, so the application of these amendments did not have a significant impact on the Group's financial position or results in the period. • Amendments to IFRS 7, IFRS 9 and IAS 39: Interest Rate Benchmark Reform The amendments to IFRS 9 and IAS 39 Financial Instruments: Recognition and Measurement provide a number of reliefs, which apply to all hedging relationships that are directly affected by interest rate benchmark reform. A hedging relationship is affected if the reform gives rise to uncertainties about the timing and or amount of benchmark-based cash flows of the hedged item or the hedging instrument. This amendment did not have a significant impact on the Group's financial position or results in the period. • Amendments to IAS 1 and IAS 8: Definition of Material The amendments provide a consistent definition of materiality throughout International Financial Reporting Standards and the Conceptual Framework for Financial Reporting, clarify when information is material and incorporate some of the guidance in IAS 1 about immaterial information. In particular, the amendments clarify: (i) that the reference to obscuring information addresses situations in which the effect is similar to omitting or misstating that information, and that an entity assesses materiality in the context of the financial statements as a whole, and (ii) the meaning of ‘primary users of general purpose financial statements’ to whom those financial statements are directed, by defining them as ‘existing and potential investors, lenders and other creditors’ that must rely on general purpose financial statements for much of the financial information they need. The Group's current practices are in line with these criteria, so the application of these amendments did not have an impact on the Group's financial position or results in the period, nor are they expected to do so in the future. • Conceptual Framework for Financial Reporting The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. The revised Conceptual Framework includes some new concepts, provides updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts, such as removing the probability threshold for recognition and adding guidance on derecognition, or adding guidance on different measurement basis. No changes were made to any of the current accounting standards. The Group’s accounting policies are still appropriate under the revised Framework, so these amendments had no impact on the Group's financial position or results in the period. • Amendments to IFRS 16: Covid19-related Rent Concessions The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions (such as rent holidays or rent reductions for a period of time) arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification and therefore account for any change in lease payments resulting from the Covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change were not a lease modification. The amendment applies to annual reporting periods beginning on or after 1 June 2020, with earlier application permitted. In accordance with EU regulations, companies shall apply the amendment, at the latest, as from 1 June 2020 for financial years starting on or after 1 January 2020. This amendment had no impact on the consolidated financial statements of the Group. New standards and amendments to standards issued but not effected as of December 31, 2020. At the date of preparation of the consolidated financial statements, the following IFRS and amendments to existing standards had been published, but their application is not mandatory: Standards and amendments Mandatory application: annual periods beginning on or after Amendments to IFRS 4 Deferral of IFRS 9 January 1, 2021 Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2 January 1, 2021 Amendments to IAS 37 Cost of Fulfilling a Contract January 1, 2022 Amendments to IFRS 3 Reference to the Conceptual Framework January 1, 2022 Annual Improvements 2018-2020 Cycle January 1, 2022 Amendments to IAS 16 Proceeds before Intended Use January 1, 2022 Amendments to IAS 1 Classification of Liabilities as Current or Non-current January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 The initial application of IFRS 9 Financial instruments and IFRS 15 Revenue from contracts with customers, effective as of January 1, 2018, had a net impact on total equity amounting to -165 million euros and 743 million euros, respectively in 2018, with the following detail: Millions of euros IFRS 9 IFRS 15 Total Gross impact on equity (221) 1,006 785 Tax effect 56 (263) (207) Impact on equity (165) 743 578 Attributable to equity holders (142) 654 512 Attributable to non-controlling interest (23) 89 66 |
Schedule of Effect of Changes in Foreign Exchange Rates | The crisis contributed to the significant depreciation against the euro of the major currencies of the countries where the Group operates, as shown below. Variation of closing exchange rate (12/31/2020 vs 12/31/2019) Variation of average exchange rate (2020 vs 2019) Brazilian real (29.0 %) (24.1 %) Pound sterling (5.2 %) (1.3 %) Peruvian nuevo sol (16.2 %) (6.1 %) Argentine peso (34.8 %) (34.8 %) Chilean peso (3.6 %) (12.9 %) Colombian peso (12.6 %) (12.6 %) Mexican peso (13.3 %) (11.5 %) The following table presents the figures of Telefónica Venezolana in certain items of the consolidated income statement, the consolidated statement of cash flows and the consolidated statement of financial position of the Telefónica Group, by applying the synthetic exchange rate: Millions of euros 2020 2019 2018 Revenues 72 79 18 Depreciation and amortization (13) (10) (67) Operating income (13) 7 (64) Net financial expense (1) 24 63 216 Profit before tax 37 70 152 Corporate income tax (2) (9) 3 (186) Result for the year 28 73 (34) Net cash flow provided by operating activities (1) 14 7 Capital expenditures (CapEx) 17 20 2 Non-current assets 51 43 238 (1) Mainly resulting from the hyperinflation adjustment to the net monetary position and the exchange differences arising from foreign currency items held by Telefónica Venezolana. |
Accounting Policies (Tables)
Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 constituting net “Property, plant and equipment” in 2020 and 2019 were as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Depreciation Disposals Impairments Transfers and others Translation Balance at 12/31/2020 Land and buildings 3,603 33 (325) (6) 1 (248) (229) 2,829 Plant and machinery 25,006 981 (4,387) (85) (271) (59) (2,509) 18,676 Furniture, tools and other items 1,248 93 (310) (3) (2) (287) (116) 623 PP&E in progress 2,371 2,984 — (5) (3) (3,445) (261) 1,641 Total PP&E 32,228 4,091 (5,022) (99) (275) (4,039) (3,115) 23,769 (1) Total additions of property, plant and equipment in 2020 amounted to 4,595 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 2). 2019 Millions of euros Balance at 12/31/2018 First application of IFRS 16 Additions (1) Depreciation Disposals Transfers and others Translation Exclusion Balance at 12/31/2019 Land and buildings 4,310 (9) 37 (334) (227) 61 (56) (179) 3,603 Plant and machinery 25,346 (107) 1,258 (4,845) (33) 3,638 (58) (193) 25,006 Furniture, tools and other items 1,201 (133) 129 (434) (4) 503 7 (21) 1,248 PP&E in progress 2,438 — 4,568 — (2) (4,612) 18 (39) 2,371 Total PP&E 33,295 (249) 5,992 (5,613) (266) (410) (89) (432) 32,228 (1) Total additions of property, plant and equipment in 2019 amounted to 6,051 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2). The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December 31, 2020 and 2019 were as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 8,735 (5,861) (45) 2,829 Plant and machinery 85,230 (66,289) (265) 18,676 Furniture, tools and other items 4,573 (3,938) (12) 623 PP&E in progress 1,654 — (13) 1,641 Total PP&E 100,192 (76,088) (335) 23,769 Balance at December 31, 2019 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 10,588 (6,975) (10) 3,603 Plant and machinery 101,249 (76,186) (57) 25,006 Furniture, tools and other items 7,041 (5,788) (5) 1,248 PP&E in progress 2,381 — (10) 2,371 Total PP&E 121,259 (88,949) (82) 32,228 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Operating Segments [Abstract] | |
Schedule of Income and Capital Expenditure Information Regarding the Group's Operating Segments | The following table presents income, CapEx information (capital expenditures in intangible assets and property, plant and equipment, see Notes 6 and 8) and acquisitions of rights of use (since the entry into force of IFRS 16, see Note 9) regarding the Group’s operating segments: 2020 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Revenues 12,401 6,708 7,532 7,422 7,922 826 1,860 (1,595) 43,076 External revenues 12,118 6,666 7,500 7,406 7,786 322 1,288 (10) 43,076 Intersegment revenues 283 42 32 16 136 504 572 (1,585) — Other operating income and expenses (1) (7,355) (4,644) (5,223) (4,234) (6,932) (306) (2,021) 1,137 (29,578) OIBDA 5,046 2,064 2,309 3,188 990 520 (161) (458) 13,498 Depreciation and amortization (2,184) (389) (2,394) (1,965) (2,274) (269) (199) 315 (9,359) Operating income 2,862 1,675 (85) 1,223 (1,284) 251 (360) (143) 4,139 CapEx 1,408 913 1,094 1,372 833 348 106 (213) 5,861 Acquisitions of rights of use 138 116 1,159 768 364 353 25 (909) 2,014 (1) Other operating income and expenses includes “Other income”, “Supplies”, “Personnel expenses” and “Other expenses”. 2019 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Revenues 12,850 7,109 7,399 10,035 9,650 842 2,129 (1,592) 48,422 External revenues 12,528 7,068 7,364 10,018 9,504 360 1,580 — 48,422 Intersegment revenues 322 41 35 17 146 482 549 (1,592) — Other operating income and expenses (1) (9,131) (4,995) (5,073) (5,773) (7,617) (338) (1,589) 1,213 (33,303) OIBDA 3,719 2,114 2,326 4,262 2,033 504 540 (379) 15,119 Depreciation and amortization (2,013) (1,204) (2,463) (2,516) (2,268) (249) (136) 267 (10,582) Operating income 1,706 910 (137) 1,746 (235) 255 404 (112) 4,537 CapEx 1,667 914 2,469 2,005 1,485 284 143 (183) 8,784 Acquisitions of rights of use 127 157 230 409 367 88 37 (123) 1,292 (1) Other operating income and expenses includes “Other income”, “Supplies”, “Personnel expenses” and “Other expenses”. 2018 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Revenues 12,788 6,790 7,320 10,126 9,939 792 2,539 (1,601) 48,693 External revenues 12,461 6,757 7,281 10,105 9,815 334 1,940 — 48,693 Intersegment revenues 327 33 39 21 124 458 599 (1,601) — Other operating income and expenses (1) (7,993) (4,925) (5,486) (5,815) (7,681) (422) (2,325) 1,525 (33,122) OIBDA 4,795 1,865 1,834 4,311 2,258 370 214 (76) 15,571 Depreciation and amortization (1,678) (943) (2,071) (1,990) (2,006) (125) (275) 39 (9,049) Operating income 3,117 922 (237) 2,321 252 245 (61) (37) 6,522 CapEx 1,741 1,464 966 1,910 1,681 181 195 (19) 8,119 (1) Other operating income and expenses includes “Other income”, “Supplies”, “Personnel expenses” and “Other expenses”. The following table presents main assets and liabilities by segment: 2020 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Fixed assets 14,604 — 13,005 14,408 8,692 452 1,140 — 52,301 Rights of use (1) 1,332 — 2,852 1,677 1,117 30 79 (2,105) 4,982 Investments accounted for by the equity method 266 — 2 1 58 — 100 — 427 Financial assets and other non-currents assets 330 — 647 700 773 39 7,979 (3,198) 7,270 Deferred tax assets 2,212 — 473 248 721 29 2,733 — 6,416 Other current financial assets 35 — 67 30 90 3 10,187 (7,917) 2,495 Non-current assets and disposal groups held for sale — 13,264 — — 30 2,062 418 (361) 15,413 Total allocated assets 24,098 13,264 20,266 20,023 14,973 2,840 27,981 (18,394) 105,051 Non-current financial liabilities 758 — 1,577 167 6,149 1,257 37,360 (4,971) 42,297 Non-current lease liabilities 1,074 — 2,326 1,342 1,095 4 82 (1,884) 4,039 Deferred tax liabilities 141 — 405 864 481 18 711 — 2,620 Current financial liabilities 852 — 715 224 1,157 150 9,881 (4,856) 8,123 Current lease liabilities 291 — 514 297 365 8 26 (246) 1,255 Liabilities associated with non-current assets and disposal groups held for sale — 4,897 — — — 917 221 (1,244) 4,791 Total allocated liabilities 16,360 4,897 10,903 6,252 12,960 2,785 51,033 (18,399) 86,791 (1) The eliminations of rights of use mainly correspond to the rights of use for assets leased by Telxius to the operating companies of the Group. 2019 Millions of euros Telefónica Telefónica Telefónica Germany Telefónica Telefónica Telxius Group Other companies Eliminations Total Group Fixed assets 15,159 10,051 14,091 20,585 11,881 1,145 753 — 73,665 Rights of use (1) 1,500 716 2,499 1,933 1,382 388 71 (1,550) 6,939 Investments accounted for by the equity method — 9 — 2 73 — 56 — 140 Financial assets and other non-currents assets 167 468 457 1,159 764 55 7,224 (3,171) 7,123 Deferred tax assets 2,384 2 314 337 755 89 2,801 — 6,682 Other current financial assets 42 72 17 67 426 1 5,587 (3,089) 3,123 Non-current assets and disposal groups held for sale 12 — — 1 43 — 762 — 818 Total allocated assets 24,491 13,869 20,143 28,120 20,553 2,184 23,238 (13,721) 118,877 Non-current financial liabilities 775 1,132 2,153 572 2,666 1,148 37,360 (2,518) 43,288 Non-current lease liabilities 1,252 490 2,027 1,582 1,298 281 74 (1,378) 5,626 Deferred tax liabilities 158 101 358 945 572 18 756 — 2,908 Current financial liabilities 854 — 339 464 901 1 12,193 (5,676) 9,076 Current lease liabilities 283 213 462 448 248 117 15 (186) 1,600 Liabilities associated with non-current assets and disposal groups held for sale — — — — — — 380 — 380 Total allocated liabilities 16,067 5,450 10,659 8,599 10,904 2,250 53,216 (13,718) 93,427 |
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 2020 2019 2018 Country by segments Fixed Mobile Others and elims. Total Fixed Mobile Others and elims. Total Fixed Mobile Others and elims. Total Spain (*) 12,401 12,850 12,788 United Kingdom 232 6,476 — 6,708 218 6,891 — 7,109 214 6,576 — 6,790 Germany 785 6,730 17 7,532 741 6,647 11 7,399 767 6,539 14 7,320 Brazil 2,531 4,891 — 7,422 3,537 6,498 — 10,035 3,754 6,372 — 10,126 Hispam 2,836 5,070 16 7,922 3,435 6,210 5 9,650 3,468 6,471 — 9,939 Telxius Group 826 826 842 842 792 792 Other and inter-segment eliminations 265 265 537 537 938 938 Total Group 43,076 48,422 48,693 Note: In the countries of Telefónica Hispam segment with separate fixed and mobile operating companies, intercompany revenues were not considered. (*) The detail of revenues for Telefónica Spain is shown in the table below. Given the convergence reached at Telefónica Spain due to the high penetration of convergent offers in Telefónica Spain, the revenue breakdown by fixed and mobile is less relevant in this segment. For this reason, management believes that the revenue breakdown shown below is more meaningful. Millions of euros Telefónica Spain 2020 2019 2018 Retailers 9,906 10,313 10,341 Wholesalers, mobile handsets sales and others 2,495 2,537 2,447 Total 12,401 12,850 12,788 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Intangible Assets [Abstract] | |
Schedule of Composition and Movements in Net Intangible Assets | The composition of and movements in net intangible assets in 2020 and 2019 are as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Amortization Disposals Impairments Transfers and others Translation differences and hyperinflation adjustments Balance at 12/31/2020 Service concession arrangements and licenses 8,566 32 (1,001) (33) (106) 151 (1,036) 6,573 Software 2,980 467 (1,305) — (2) 542 (302) 2,380 Customer base 1,666 6 (372) — — (4) (58) 1,238 Trademarks 640 — (51) — — (2) (75) 512 Other intangible assets 52 11 (6) — — (2) (4) 51 Intangible assets in process 2,130 595 — — — (1,940) (51) 734 Total intangible assets 16,034 1,111 (2,735) (33) (108) (1,255) (1,526) 11,488 (1) Total additions of intangible assets in 2020 amounted to 1,266 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 2) . 2019 Millions of euros Balance at 12/31/2018 Additions (1) Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Exclusion Balance at 12/31/2019 Service concession arrangements and licenses 9,995 25 (1,227) (495) 333 23 (88) 8,566 Software 2,940 420 (1,464) (4) 1,113 (6) (19) 2,980 Customer base 2,138 — (478) — 9 (3) — 1,666 Trademarks 690 — (58) — — 8 — 640 Other intangible assets 77 15 (21) — (18) (1) — 52 Intangible assets in process 1,016 2,267 — (1) (1,146) — (6) 2,130 Total intangible assets 16,856 2,727 (3,248) (500) 291 21 (113) 16,034 (1) Total additions of intangible assets in 2019 amounted to 2,733 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2). |
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, 2020 and 2019 are as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 7,062 (399) (90) 6,573 Software 15,375 (12,986) (9) 2,380 Customer base 5,071 (3,833) — 1,238 Trademarks 1,720 (1,207) (1) 512 Other intangible assets 940 (888) (1) 51 Intangible assets in process 734 — — 734 Total intangible assets 30,902 (19,313) (101) 11,488 Balance at December 31, 2019 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 20,414 (11,848) — 8,566 Software 17,578 (14,597) (1) 2,980 Customer base 6,544 (4,878) — 1,666 Trademarks 1,887 (1,247) — 640 Other intangible assets 956 (901) (3) 52 Intangible assets in process 2,130 — — 2,130 Total intangible assets 49,509 (33,471) (4) 16,034 The movement in goodwill assigned to each Group segment was as follows: 2020 Millions of euros Balance at 12/31/2019 Additions Write-offs Transfers Exchange rate impact Balance at 12/31/2020 Telefónica Spain 4,299 — — — — 4,299 Telefónica Brazil 8,814 — — — (2,556) 6,258 Telefónica Germany 4,819 — — (261) — 4,558 Telefónica United Kingdom 4,847 — — (4,750) (97) — Telefónica Hispam 2,530 — (519) — (233) 1,778 Telxius Group 2 — — (2) — — Others 92 5 — 63 (9) 151 Total 25,403 5 (519) (4,950) (2,895) 17,044 2019 (*) Millions of euros Balance at 12/31/2018 Disposals Additions Write-offs Exchange rate impact Balance at 12/31/2019 Telefónica Spain 4,310 (11) — — — 4,299 Telefónica Brazil 8,991 (1) — — (176) 8,814 Telefónica Germany 4,815 — 4 — — 4,819 Telefónica United Kingdom 4,611 — — — 236 4,847 Telefónica Hispam 2,785 (22) — (206) (27) 2,530 Telxius Group 2 — — — — 2 Others 234 (144) 2 — — 92 Total 25,748 (178) 6 (206) 33 25,403 (*) The movement in 2019 has been restated to reflect the new segments of the Group (see Note 4). |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Intangible Assets [Abstract] | |
Schedule of Goodwill by Group Segment | The gross cost, accumulated amortization and impairment losses of intangible assets at December 31, 2020 and 2019 are as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 7,062 (399) (90) 6,573 Software 15,375 (12,986) (9) 2,380 Customer base 5,071 (3,833) — 1,238 Trademarks 1,720 (1,207) (1) 512 Other intangible assets 940 (888) (1) 51 Intangible assets in process 734 — — 734 Total intangible assets 30,902 (19,313) (101) 11,488 Balance at December 31, 2019 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 20,414 (11,848) — 8,566 Software 17,578 (14,597) (1) 2,980 Customer base 6,544 (4,878) — 1,666 Trademarks 1,887 (1,247) — 640 Other intangible assets 956 (901) (3) 52 Intangible assets in process 2,130 — — 2,130 Total intangible assets 49,509 (33,471) (4) 16,034 The movement in goodwill assigned to each Group segment was as follows: 2020 Millions of euros Balance at 12/31/2019 Additions Write-offs Transfers Exchange rate impact Balance at 12/31/2020 Telefónica Spain 4,299 — — — — 4,299 Telefónica Brazil 8,814 — — — (2,556) 6,258 Telefónica Germany 4,819 — — (261) — 4,558 Telefónica United Kingdom 4,847 — — (4,750) (97) — Telefónica Hispam 2,530 — (519) — (233) 1,778 Telxius Group 2 — — (2) — — Others 92 5 — 63 (9) 151 Total 25,403 5 (519) (4,950) (2,895) 17,044 2019 (*) Millions of euros Balance at 12/31/2018 Disposals Additions Write-offs Exchange rate impact Balance at 12/31/2019 Telefónica Spain 4,310 (11) — — — 4,299 Telefónica Brazil 8,991 (1) — — (176) 8,814 Telefónica Germany 4,815 — 4 — — 4,819 Telefónica United Kingdom 4,611 — — — 236 4,847 Telefónica Hispam 2,785 (22) — (206) (27) 2,530 Telxius Group 2 — — — — 2 Others 234 (144) 2 — — 92 Total 25,748 (178) 6 (206) 33 25,403 (*) The movement in 2019 has been restated to reflect the new segments of the Group (see Note 4). |
Schedule of Allocation of Goodwill to the Different Cash-Generating Units (CGUs) | In order to test for impairment, goodwill was allocated to the different cash-generating units (CGUs), which are grouped into the following reportable operating segments: Millions of euros 12/31/2020 12/31/2019 Telefónica Spain 4,299 4,299 Telefónica Brazil 6,258 8,814 Telefónica Germany 4,558 4,819 Telefónica United Kingdom — 4,847 Telefónica Hispam 1,778 2,530 Colombia 170 195 Ecuador 119 130 Chile 826 856 Peru 642 766 Argentina — 557 Uruguay 19 24 Others T. Hispam 2 2 Telxius Group — 2 Others 151 92 TOTAL 17,044 25,403 The discount rates applied to the cash flow projections in 2020 and 2019 for the main CGUs are as follows: 2020 2019 Discount rate in local currency Before tax After-tax Before tax After-tax Spain 8.4% 6.5% 8.2% 6.2% Brazil 13.6% 11.1% 12.6% 10.0% United Kingdom 7.3% 6.1% 7.8% 6.2% Germany 6.5% 4.8% 7.8% 4.9% The perpetuity growth rates applied to the cash flow projections in 2020 and 2019 for the main CGUs are as follows: Perpetuity growth rate 2020 2019 Spain 0.8% 1.0% Brazil 4.5% 4.5% United Kingdom 0.8% 0.8% Germany 1.0% 1.1% |
Schedule of Sensitivity to Changes in Assumptions | The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test. Due to the greater uncertainty from the pandemic, the range of variation of the key assumptions was exceptionally increased by 50% with regard to the previous year. Thus, f or the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points (percentage points): Changes in key assumptions, Spain United Kingdom Germany Brazil Financial variables Discount rate +/-0.75 +/-0.75 +/-0.75 +/-1.5 Perpetuity growth rates +/-0.375 +/-0.375 +/-0.375 +/-0.75 Long-term operating variables OIBDA Margin +/-2.625 +/-2.625 +/-2.25 +/-3 Ratio of CapEx/Revenues +/-1.31 +/-1.31 +/-1.13 +/-1.5 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 constituting net “Property, plant and equipment” in 2020 and 2019 were as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Depreciation Disposals Impairments Transfers and others Translation Balance at 12/31/2020 Land and buildings 3,603 33 (325) (6) 1 (248) (229) 2,829 Plant and machinery 25,006 981 (4,387) (85) (271) (59) (2,509) 18,676 Furniture, tools and other items 1,248 93 (310) (3) (2) (287) (116) 623 PP&E in progress 2,371 2,984 — (5) (3) (3,445) (261) 1,641 Total PP&E 32,228 4,091 (5,022) (99) (275) (4,039) (3,115) 23,769 (1) Total additions of property, plant and equipment in 2020 amounted to 4,595 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 2). 2019 Millions of euros Balance at 12/31/2018 First application of IFRS 16 Additions (1) Depreciation Disposals Transfers and others Translation Exclusion Balance at 12/31/2019 Land and buildings 4,310 (9) 37 (334) (227) 61 (56) (179) 3,603 Plant and machinery 25,346 (107) 1,258 (4,845) (33) 3,638 (58) (193) 25,006 Furniture, tools and other items 1,201 (133) 129 (434) (4) 503 7 (21) 1,248 PP&E in progress 2,438 — 4,568 — (2) (4,612) 18 (39) 2,371 Total PP&E 33,295 (249) 5,992 (5,613) (266) (410) (89) (432) 32,228 (1) Total additions of property, plant and equipment in 2019 amounted to 6,051 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2). The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December 31, 2020 and 2019 were as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 8,735 (5,861) (45) 2,829 Plant and machinery 85,230 (66,289) (265) 18,676 Furniture, tools and other items 4,573 (3,938) (12) 623 PP&E in progress 1,654 — (13) 1,641 Total PP&E 100,192 (76,088) (335) 23,769 Balance at December 31, 2019 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 10,588 (6,975) (10) 3,603 Plant and machinery 101,249 (76,186) (57) 25,006 Furniture, tools and other items 7,041 (5,788) (5) 1,248 PP&E in progress 2,381 — (10) 2,371 Total PP&E 121,259 (88,949) (82) 32,228 |
Rights of Use (Tables)
Rights of Use (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Rights of Use [Abstract] | |
Schedule of Movements of Rights of Use | The movement of rights of use in 2020 and 2019 is as follows: 2020 Millions of euros Balance at 12/31/2019 Additions (1) Amortization Disposals Transfers and others Translation differences and hyperinflation Balance at 12/31/2020 Rights of use on land and natural properties 1,514 580 (481) (197) (581) (73) 762 Rights of use on buildings 3,793 957 (760) (121) (435) (615) 2,819 Rights of use on plant and machinery 1,434 342 (299) (51) (153) (35) 1,238 Other rights of use 198 37 (62) (5) — (5) 163 Total of rights of use 6,939 1,916 (1,602) (374) (1,169) (728) 4,982 (1) Total additions of rights of use in 2020 amounted to 2,014 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period. Additions of rights of use are detailed in Note 4. 2019 Millions of euros Balance at 12/31/2018 First application IFRS 16 (Note 2) Additions (1) Amorti-zation Disposals Exclusion Transfers and others Translation differences and hyperinflation Balance at 12/31/2019 Rights of use on land and natural properties — 1,622 334 (385) (61) (6) (3) 13 1,514 Rights of use on buildings — 4,361 697 (904) (136) (109) (123) 7 3,793 Rights of use on plant and machinery — 1,676 206 (373) (70) (6) (7) 8 1,434 Other rights of use — 211 47 (59) (2) — (1) 2 198 Total of rights of use — 7,870 1,284 (1,721) (269) (121) (134) 30 6,939 |
Schedule of Gross Cost, Accumulated Depreciation and Impairment Losses of Rights of Use | The gross cost and accumulated depreciation of the rights of use at December 31, 2020 and 2019 are as follows: Balance at December 31, 2020 Millions of euros Gross cost Accumulated depreciation Rights of use Rights of use on land and natural properties 1,326 (564) 762 Rights of use on buildings 4,107 (1,288) 2,819 Rights of use on plant and machinery 1,740 (502) 1,238 Other rights of use 309 (146) 163 Total of rights of use 7,482 (2,500) 4,982 Balance at December 31, 2019 Millions of euros Gross cost Accumulated depreciation Rights of use Rights of use on land and natural properties 1,890 (376) 1,514 Rights of use on buildings 4,722 (929) 3,793 Rights of use on plant and machinery 1,822 (388) 1,434 Other rights of use 305 (107) 198 Total of rights of use 8,739 (1,800) 6,939 |
Schedule of Expenses Related to Leases and Income from Subleasing Right-of-Use Assets | The detail of expenses related to leases included in Supplies and Other expenses (see Note 3.g) of the consolidated income statement for 2020 and 2019 are as follows: Millions of euros 2020 2019 Short-term leases included in operating results as supplies 47 115 Variable lease payments not included in the measurement of leases liabilities 15 — Total expenses as supplies 62 115 Short-term leases included in external services 60 108 Leases of low-value assets included in external services 7 13 Variable lease payments not included in the measurement of leases liabilities 22 2 Total expenses as external services (Note 26) 89 123 Total lease expenses 151 238 |
Associates and Joint Ventures (
Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 consolidated income statements is as follows: Millions of euros 12/31/2020 12/31/2019 Investments accounted for by the equity method 427 140 Long-term credits to associates and joint ventures 1 — Receivables from associates and joint ventures for current operations (Note 14) 25 37 Payables to associates and joint ventures (Note 22) 11 634 Millions of euros 2020 2019 2018 Share of income (loss) of investments accounted for by the equity method 2 13 4 Revenue from operations with associates and joint ventures 268 265 233 Expenses from operations with associates and joint ventures 39 30 14 Financial revenues with associates and joint ventures — — 1 Financial expenses with associates and joint ventures — 1 — |
Schedule of Interests in Associates | The detail of the movement in investments accounted for by the equity method in 2020 and 2019 was as follows: Investments accounted for by the equity method Millions of euros Balance at 12/31/2018 68 Income (loss) 13 Dividends (13) Transfers and others 72 Balance at 12/31/2019 140 Additions 269 Disposals (2) Translation differences and other comprehensive income (loss) (14) Income (loss) (*) 1 Dividends (12) Transfers and others 45 Balance at 12/31/2020 427 (*) The results, including those of Tesco Mobile Ltd. since its transfer to non-current assets and disposal groups held for sale, amounted to 2 million euros. The detail of investments accounted for by the equity method is as follow: Million of euros 12/31/2020 12/31/2019 Prosegur Alarmas España, S.L. 265 — Internet para Todos S.A.C. 58 72 Others 104 68 Total 427 140 The breakdown of the key financial highlights of Prosegur Alarmas España and Internet para Todos for the latest period available at the time of preparation of these consolidated financial statements and the reconciliation with the carrying amount in the Group are as follows: Million of euros Prosegur Alarmas España, S.L. Internet para Todos S.A.C. Assets 149 117 Liabilities (128) (11) Net assets 21 106 Purchase price allocation Assets 156 — Liabilities (39) — Net assets 117 — % Holding 50 % 54.7 % Group’s share in equity 69 58 Goodwill 196 — Carrying amount in the Telefónica Group 265 58 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party [Abstract] | |
Schedule of Transactions | The following is a summary of significant transactions between the Telefónica Group and BBVA and Caixabank companies. All transactions were carried out at market prices: Millions of euros 2020 BBVA Caixabank Finance costs 15 3 Receipt of services 6 15 Purchase of goods — 60 Other expenses 4 — Total costs 25 78 Finance income 20 — Dividends received (1) 7 N/A Services rendered 21 53 Sale of goods 10 52 Other income 4 — Total revenues 62 105 Purchase of assets — 2 Finance arrangements: loans, capital contributions and others (borrower) 318 25 Finance arrangements: loans and capital contributions (lessee) — 2 Guarantees 148 89 Commitments — 104 Finance arrangements: loans and capital contributions (lender) 294 273 Dividends paid 125 126 Factoring operations — 477 (1) At December 31, 2020, Telefónica held a 0.66% stake (0.66% stake at December 31, 2019) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 12). Millions of euros 2019 BBVA Caixabank Finance costs 32 7 Receipt of services 8 8 Purchase of goods — 62 Other expenses 4 — Total costs 44 77 Finance income 27 — Dividends received 11 N/A Services rendered 13 63 Sale of goods 9 49 Other income 1 — Total revenues 61 112 Purchase of goods — 4 Finance arrangements: loans and capital contributions (borrower) 568 116 Finance arrangements: loans and capital contributions (lessee) — 5 Guarantees 169 91 Commitments — 89 Finance arrangements: loans and capital contributions (lender) 608 675 Dividends 121 108 Factoring operations 904 — |
Financial Assets and Other No_2
Financial Assets and Other Non-current Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Schedule of Movement in Non-Current Financial Assets | The breakdown of financial assets and other non-current assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Non-current financial assets (Note 16) 6,639 6,392 Investments 457 600 Long-term receivables for indirect taxes 187 188 Other long-term credits 252 353 Deposits and guarantees 1,633 1,285 Trade receivables 551 719 Receivables for subleases 15 12 Impairment of trade receivables (122) (154) Derivative financial assets (Note 19) 3,666 3,389 Other non-current assets 631 731 Contractual assets (Note 23) 145 138 Deferred expenses (Note 23) 331 221 Prepayments 155 372 Total 7,270 7,123 The movement in investments, long-term receivables for indirect taxes, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2020 and 2019, is as follows: Millions of euros Invest-ments Long-term receivables for indirect taxes Other long-term credits Deposits and guarantees Trade receiva-bles Long-term receivables for subleases Impairment of trade receivables Balance at 12/31/18 573 731 319 1,624 488 — (118) First application of IFRS 16 impact — — — — — 13 — Acquisitions 29 175 141 70 794 5 (19) Disposals (9) (30) (85) (118) (187) — 10 Translation differences — — 3 (14) 9 — (3) Fair value adjustments and financial updates 7 26 (1) 7 8 — — Transfers and other — (714) (24) (284) (393) (6) (24) Balance at 12/31/19 600 188 353 1,285 719 12 (154) Acquisitions 10 285 40 52 666 10 (23) Disposals (13) (8) (24) (159) (233) — 16 Translation differences (3) (55) (22) (219) (66) (1) 24 Fair value adjustments and financial updates (137) 4 (4) 12 2 — — Transfers and other — (227) (91) 662 (537) (6) 15 Balance at 12/31/20 457 187 252 1,633 551 15 (122) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Inventories [Abstract] | |
Schedule of Inventories | The detail of inventories of the Telefónica Group at December 31, 2020 and December 31, 2019 are as follows: Millions of euros 12/31/2020 12/31/2019 Audiovisual rights 1,214 1,189 Mobile terminals and other equipments 507 830 Other inventories 41 33 Inventories impairment provision (44) (53) Inventories 1,718 1,999 |
Receivables and Other Current_2
Receivables and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Receivables and Other Current Assets | The detail of receivables and other current assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Receivables (Note 16) 6,220 8,752 Trade receivables 8,334 10,969 Impairment of trade receivables (2,549) (2,798) Receivables from associates and joint ventures (Note 10) 25 37 Other receivables 410 544 Other current assets 1,303 2,033 Contractual assets (Note 23) 104 351 Capitalized costs (Note 23) 580 625 Prepayments 619 1,057 Total 7,523 10,785 |
Schedule of Impairment of Trade Receivables | The movement in impairment of trade receivables in 2020 and 2019 is as follows: Millions of euros Impairment provision at December 31, 2018 2,657 Allowances 1,022 Inclusion of companies (30) Amounts applied (848) Translation differences and other (3) Impairment provision at December 31, 2019 2,798 Allowances 819 Transfers (192) Amounts applied (501) Translation differences and other (375) Impairment provision at December 31, 2020 2,549 |
Schedule of Accounts Receivable Balances | The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2020 and 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Trade receivables Impairment Trade receivables Impairment Unbilled receivables 2,098 (15) 2,680 (19) Amount not overdue invoiced 2,538 (117) 3,978 (242) Less than 90 days 903 (126) 1,299 (195) Between 90 and 180 days 350 (146) 504 (201) Between 180 and 360 days 474 (326) 602 (440) More than 360 days 1,971 (1,819) 1,906 (1,701) Total 8,334 (2,549) 10,969 (2,798) |
Other Current Financial Assets
Other Current Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Other Current Financial Assets | The breakdown of other financial assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Short-term credits 1,078 1,298 Short-term deposits and guarantees 82 98 Short-term derivative financial assets (Note 19) 1,210 1,441 Other current financial assets 125 286 Total 2,495 3,123 |
Breakdown of Financial Assets (
Breakdown of Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Schedule of Breakdown of Financial Assets | Financial assets and other non-current assets The breakdown of financial assets and other non-current assets of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Non-current financial assets (Note 16) 6,639 6,392 Investments 457 600 Long-term receivables for indirect taxes 187 188 Other long-term credits 252 353 Deposits and guarantees 1,633 1,285 Trade receivables 551 719 Receivables for subleases 15 12 Impairment of trade receivables (122) (154) Derivative financial assets (Note 19) 3,666 3,389 Other non-current assets 631 731 Contractual assets (Note 23) 145 138 Deferred expenses (Note 23) 331 221 Prepayments 155 372 Total 7,270 7,123 Non-current financial assets The movement in investments, long-term receivables for indirect taxes, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2020 and 2019, is as follows: Millions of euros Invest-ments Long-term receivables for indirect taxes Other long-term credits Deposits and guarantees Trade receiva-bles Long-term receivables for subleases Impairment of trade receivables Balance at 12/31/18 573 731 319 1,624 488 — (118) First application of IFRS 16 impact — — — — — 13 — Acquisitions 29 175 141 70 794 5 (19) Disposals (9) (30) (85) (118) (187) — 10 Translation differences — — 3 (14) 9 — (3) Fair value adjustments and financial updates 7 26 (1) 7 8 — — Transfers and other — (714) (24) (284) (393) (6) (24) Balance at 12/31/19 600 188 353 1,285 719 12 (154) Acquisitions 10 285 40 52 666 10 (23) Disposals (13) (8) (24) (159) (233) — 16 Translation differences (3) (55) (22) (219) (66) (1) 24 Fair value adjustments and financial updates (137) 4 (4) 12 2 — — Transfers and other — (227) (91) 662 (537) (6) 15 Balance at 12/31/20 457 187 252 1,633 551 15 (122) Investments “Investments” includes the fair value of investments in companies where Telefónica exercises no significant influence or control and for which there is no specific short-term disposal plan (see Note 3.i). It should be noted, the Telefónica Group’s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounted to 178 million euros (220 million euros at December 31, 2019), representing 0.66% of its share capital at December 31, 2020 (same percentage at December 31, 2019). At December 31, 2020, Telefónica maintained a 0.59% stake in the share capital of China Unicom (Hong Kong) Limited, valued at 85 million euros (same percentage at December 31, 2019, valued at 152 million euros). At December 31, 2020, Telefónica maintained a 9.03% stake in the share capital of Promotora de Informaciones, S.A. (Prisa), valued at 57 million euros (same percentage at December 31, 2019 valued at 94 million euros). In 2019, Telefónica subscribed the capital increase of PRISA, acquiring 11.3 million shares, and selling the rest of the preferred subscription rights. The net amount of the transactions was 15 million euros in 2019. Long-term receivables for indirect taxes During 2018 two final decisions in favor of Telefónica Brazil were passed, which recognized the right to deduct the state tax on goods and services (ICMS) from the calculation basis of the Social Integration Program-PIS (Programa de Integração Social) and the Financing of Social Security-COFINS (Contribuição para Financiamento da Seguridade Social). These decisions cover the period from September 2003 to June 2017, and the period from July 2004 to June 2013. Once the values were determined, Telefónica Brazil presented to the tax authorities a refund request for the payments of PIS/COFINS affected by the judicial decision, together with the corresponding default interest. The total amount, recorded as "Long-term receivables for indirect taxes" in 2018, amounted to 6,240 million Brazilian reals (around 1,454 million euros at an average exchange rate of 2018). In 2018, the impact on the consolidated income statement amounted to 3,386 million Brazilian reals ( 789 million euros at an average exchange rate of 2018), reducing the "Taxes" item under "Other expenses" (Note 26), and 2,854 million Brazilian reals (665 million euros at an average exchange rate of 2018) under Finance Income (see Note 19). At December 31, 2019 the credits pending compensation amounted to 2,046 million Brazilian reals (452 million euros at the closing exchange rate for 2019) and it was recorded under current assets (see Note 25). In 2020, new final decisions in favor of Telefonica Brazil were passed, which covered the periods from November 2001 to March 2016 and from July 2002 to August 2003. The Company recognized the corresponding credits amounting to 932 million Brazilian reals (160 million euros at an average exchange rate of 2020). The impact on the consolidated income statement amounted to 436 million Brazilian reals (75 million euros), reducing the “Taxes” item under “Other expenses” (see Note 26), and 496 million Brazilian reals (85 million euros) under “Finance income” (see Note 19). At December 31, 2020 these credits had been totally compensated. The Company is still engaged in two other lawsuits of the same nature (including the lawsuits of the company Telemig, currently incorporated in Telefónica Brazil). According to the company’s estimates, the contingent assets for these processes, which cover several periods between February 2002 and June 2017, are in a range between 1,768 million Brazilian reals and 1,944 million Brazilian reals (between 277 million euros and 305 million euros at the closing exchange rate of 2020). Other long-term credits Likewise, this line item includes long-term financial assets of Telefónica Germany amounting to 69 million euros and 68 million euros at December 31, 2020 and 2019, respectively, that are mainly intended to cover obligations from the defined benefit plan of Telefónica Germany but do not represent "plan assets" in accordance with IAS 19 (see Note 24). "Transfers and others" in 2020 includes transfer of other long-term credits of Telefónica UK to "Non-current assets and disposal groups held for sale" amounting to 86 million euros (see Note 30). The vast majority of long-term credits, recognized at amortized cost (Note 16), are considered to be low credit risk assets, therefore the impairment analysis was carried out on the basis of expected credit losses in the next twelve months. Deposits and guarantees Telefónica Brazil has non-current judicial deposits amounting to 434 million euros (see Note 24) at December 31, 2020 (750 million euros at December 31, 2019). At December 31, 2020, there were deposits related to the collateral guarantees on derivatives (CSA) signed by Telefónica, S.A. and its counterparties for the credit risk management of derivatives amounting to 1,076 million euros of which 716 million euros cross currency swap (403 million euros at December 31, 2019 that included 80 million euros related to cross currency swap). In addition, 206,919 b onds issued by Telefónica Emisiones, S.A.U. are deposited in a securities account of Telefónica S.A. linked to these collateral contracts as guarantee for a nominal amount of 194 million euros at December 31, 2020 (145,000 bonds for a nominal amount of 129 million euros at December 31, 2019). The vast majority of deposits and guarantees recognized at amortized cost (Note 16), are considered to be low credit risk assets, therefore the impairment analysis was carried out on the basis of expected credit losses in the next 12 months. Trade receivables "Transfers and others" in 2020 includes transfer of trade receivables of Telefónica United Kingdom to "Non-current assets and disposal groups held for sale" amounting t o 178 m illion euros (see Note 30). The breakdown of financial assets of the Telefónica Group at December 31, 2020 is as follows: December 31, 2020 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 750 — 157 424 2,958 359 3,930 — 2,350 6,639 6,639 Investments 33 — — 424 — 350 107 — — 457 457 Credits and other financial assets 9 — — — — 9 — — 430 439 439 Deposits and guarantees — — — — — — — — 1,633 1,633 1,633 Derivative instruments 708 — — — 2,958 — 3,666 — — 3,666 3,666 Trade receivables — — 157 — — — 157 — 394 551 429 Trade receivables for subleases — — — — — — — — 15 15 15 Impairment of trade receivables — — — — — — — — (122) (122) — Current financial assets 524 — 588 — 827 130 1,809 — 12,380 14,319 14,319 Trade receivables (Note 14) 1 — 587 — — — 588 — 8,181 8,769 6,220 Impairment of trade receivables (Note 14) — — — — — — — — (2,549) (2,549) — Other financial assets (Note 15) 523 — 1 — 827 130 1,221 — 1,144 2,495 2,495 Cash and cash equivalents — — — — — — — — 5,604 5,604 5,604 Total 1,274 — 745 424 3,785 489 5,739 — 14,730 20,958 20,958 The breakdown of financial assets of the Telefónica Group at December 31, 2019 was as follows: December 31, 2019 Fair value through profit or loss Fair value through other comprehensive income Measurement hierarchy Millions of euros Held for trading Fair value option Debt instru-ments Equity instru-ments Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Amortized cost Total carrying amount Total fair value Non-current financial assets (Note 12) 757 — 104 565 2,676 511 3,591 — 2,290 6,392 6,392 Investments 35 — — 565 — 496 104 — — 600 600 Credits and other financial assets 9 — — — — 9 — — 532 541 541 Deposits and guarantees — — — — — — — — 1,285 1,285 1,285 Derivative instruments 713 — — — 2,676 6 3,383 — — 3,389 3,389 Trade receivables — — 104 — — — 104 — 615 719 565 Trade receivables for subleases — — — — — — — — 12 12 12 Impairment of trade receivables — — — — — — — — (154) (154) — Current financial assets 960 — 567 — 1,104 317 2,314 — 15,286 17,917 17,917 Trade receivables (Note 14) 480 — 567 — — — 1,047 — 10,503 11,550 8,752 Impairment of trade receivables (Note 14) — — — — — — — — (2,798) (2,798) — Other current financial assets (Note 15) 480 — — — 1,104 317 1,267 — 1,539 3,123 3,123 Cash and cash equivalents — — — — — — — — 6,042 6,042 6,042 Total 1,717 — 671 565 3,780 828 5,905 — 17,576 24,309 24,309 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 profit for approval at the Shareholders’ Meeting: Millions of euros Unrestricted reserves (1,685) Total (1,685) |
Schedule of Subordinated Securities | The characteristic of undated deeply subordinated securities, the detail of the tender offer and the amounts repurchased in the operations and the amount amortized in advance, are the following (million euros): Issue date Annual Variable Exercisable by issuer 12/31/2019 Tender Offer Amount repurchased Redemption 12/31/2020 02/05/2020 2.502 % from 05/05/27 rate SWAP + spread incremental 2027 — — — — 500 09/24/2019 2.875 % from 09/24/27 rate SWAP + spread incremental 2027 500 — — — 500 03/14/2019 4.375 % from 03/14/25 rate SWAP + spread incremental 2025 1,300 — — — 1,300 03/22/2018 3 % from 12/04/23 rate SWAP + spread incremental 2023 1,250 — — — 1,250 3.875 % from 09/22/26 rate SWAP + spread incremental 2026 1,000 — — — 1,000 12/07/2017 2.625 % from 06/07/23 rate SWAP + spread incremental 2023 1,000 — — — 1,000 09/15/2016 3.75 % from 03/15/22 rate SWAP + spread incremental 2022 1,000 — — — 1,000 03/30/2015(*) 8.50 % from 03/30/20 rate SWAP + spread incremental 2020 452 — — (452) — 03/31/2014 5 % from 03/31/20 rate SWAP + spread incremental 2020 244 (244) — 5.875 % from 03/31/24 rate SWAP + spread incremental 2024 1,000 — — — 1,000 11/26/2013(**) 6.75 % from 11/26/20 rate SWAP + spread incremental 2020 205 205 (153) (52) — 09/18/2013 7.625 % from 09/18/21 rate SWAP + spread incremental 2021 292 292 (232) (60) — 8,243 7,550 (*) Issued by Colombia Telecomunicaciones, S.A. ESP (500 million U.S. 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 2020 2019 2018 Brazilian real (15,365) (10,910) (10,603) Pound sterling (3,344) (2,868) (3,266) Venezuelan bolivar (3,754) (3,728) (3,516) Argentine peso (2,178) (1,936) (1,890) Other currencies (1,339) (810) (882) Total Group (25,980) (20,252) (20,157) |
Schedule of Impact of Adoption of New IFRS Guidance | The modifications introduced by IFRS 16 had a significant impact on the group's financial statements since the date of adoption, as shown below: Millions of euros Impact of the first application Opening balance of rights of use at January 1, 2019 (Note 9) 7,870 Impact of IFRS 16 on rights of use of companies held for sale at December 31, 2018 (1) 155 Reclassification of property, plant and equipment deriving from finance leases under IAS 17 (Note 8) (249) Reclassification of advance payments of lease contracts in force at December 31, 2018 (178) Accounts receivable for subleases 18 Impact of IFRS 16 on assets at transition date 7,616 Opening balance of lease liabilities at January 1, 2019 (Note 20) 7,705 Impact of IFRS 16 on lease liabilities of companies held for sale at December 31, 2018 (1) 152 Reclassification of finance lease liabilities under IAS 17 at December 31, 2018 (201) Reclassification of other liabilities at December 31, 2018 (56) Impact of IFRS 16 on liabilities at transition date 7,600 Impact of IFRS 16 on equity at transition date (Note 17) 16 (1) Antares, Telefónica Móviles Guatemala and Telefónica Móviles El Salvador (see Note 30) Following is a summary of estimated impacts of IFRS 16 on the Group’s consolidated income statement in 2019, presented on a voluntary basis: Millions of euros 2019 INCOME STATEMENT IFRS 16 IAS 17 IFRS 16 Impact Revenues 48,422 48,422 — Other income 2,842 3,032 (190) Supplies (13,635) (14,490) 855 Personnel expenses (8,066) (8,070) 4 Other expenses (14,444) (15,284) 840 Depreciation and amortization (10,582) (8,950) (1,632) OPERATING INCOME 4,537 4,660 (123) Share of income (loss) of investments accounted for by the equity method 13 13 — Finance income 842 842 — Exchange gains 2,461 2,449 12 Finance costs (2,795) (2,599) (196) Exchange losses (2,340) (2,310) (30) Net financial expense (1,832) (1,618) (214) PROFIT BEFORE TAX 2,718 3,055 (337) Corporate income tax (1,054) (1,104) 50 PROFIT FOR THE YEAR 1,664 1,951 (287) Attributable to equity holders of the Parent 1,142 1,383 (241) Attributable to non-controlling interests 522 568 (46) Basic and diluted earnings per share attributable to equity holders of the parent (euros) 0.16 0.20 (0.05) o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2020 are consistent with those used in the preparation of the Group’s consolidated annual financial statements for the year ended December 31, 2019, with the exception of the following new standards and amendments to existing standards issued by the IASB and adopted by the European Union for application in Europe, which are mandatory for annual periods beginning on or after January 1, 2020: • Amendments to IFRS 3: Definition of a Business The amendment to IFRS 3 clarifies that to be considered a business, an integrated set of activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. The definition of the term ‘outputs’ is amended to focus on goods and services provided to customers, generating investment income and other income, and it excludes returns in the form of lower costs and other economic benefits. The Group's current approach is consistent with these requirements, so the application of these amendments did not have a significant impact on the Group's financial position or results in the period. • Amendments to IFRS 7, IFRS 9 and IAS 39: Interest Rate Benchmark Reform The amendments to IFRS 9 and IAS 39 Financial Instruments: Recognition and Measurement provide a number of reliefs, which apply to all hedging relationships that are directly affected by interest rate benchmark reform. A hedging relationship is affected if the reform gives rise to uncertainties about the timing and or amount of benchmark-based cash flows of the hedged item or the hedging instrument. This amendment did not have a significant impact on the Group's financial position or results in the period. • Amendments to IAS 1 and IAS 8: Definition of Material The amendments provide a consistent definition of materiality throughout International Financial Reporting Standards and the Conceptual Framework for Financial Reporting, clarify when information is material and incorporate some of the guidance in IAS 1 about immaterial information. In particular, the amendments clarify: (i) that the reference to obscuring information addresses situations in which the effect is similar to omitting or misstating that information, and that an entity assesses materiality in the context of the financial statements as a whole, and (ii) the meaning of ‘primary users of general purpose financial statements’ to whom those financial statements are directed, by defining them as ‘existing and potential investors, lenders and other creditors’ that must rely on general purpose financial statements for much of the financial information they need. The Group's current practices are in line with these criteria, so the application of these amendments did not have an impact on the Group's financial position or results in the period, nor are they expected to do so in the future. • Conceptual Framework for Financial Reporting The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. The revised Conceptual Framework includes some new concepts, provides updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts, such as removing the probability threshold for recognition and adding guidance on derecognition, or adding guidance on different measurement basis. No changes were made to any of the current accounting standards. The Group’s accounting policies are still appropriate under the revised Framework, so these amendments had no impact on the Group's financial position or results in the period. • Amendments to IFRS 16: Covid19-related Rent Concessions The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions (such as rent holidays or rent reductions for a period of time) arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification and therefore account for any change in lease payments resulting from the Covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change were not a lease modification. The amendment applies to annual reporting periods beginning on or after 1 June 2020, with earlier application permitted. In accordance with EU regulations, companies shall apply the amendment, at the latest, as from 1 June 2020 for financial years starting on or after 1 January 2020. This amendment had no impact on the consolidated financial statements of the Group. New standards and amendments to standards issued but not effected as of December 31, 2020. At the date of preparation of the consolidated financial statements, the following IFRS and amendments to existing standards had been published, but their application is not mandatory: Standards and amendments Mandatory application: annual periods beginning on or after Amendments to IFRS 4 Deferral of IFRS 9 January 1, 2021 Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2 January 1, 2021 Amendments to IAS 37 Cost of Fulfilling a Contract January 1, 2022 Amendments to IFRS 3 Reference to the Conceptual Framework January 1, 2022 Annual Improvements 2018-2020 Cycle January 1, 2022 Amendments to IAS 16 Proceeds before Intended Use January 1, 2022 Amendments to IAS 1 Classification of Liabilities as Current or Non-current January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 The initial application of IFRS 9 Financial instruments and IFRS 15 Revenue from contracts with customers, effective as of January 1, 2018, had a net impact on total equity amounting to -165 million euros and 743 million euros, respectively in 2018, with the following detail: Millions of euros IFRS 9 IFRS 15 Total Gross impact on equity (221) 1,006 785 Tax effect 56 (263) (207) Impact on equity (165) 743 578 Attributable to equity holders (142) 654 512 Attributable to non-controlling interest (23) 89 66 |
Schedule of Treasury Share Instruments | Telefónica, S.A. held the following treasury shares at December 31, 2020, 2019 and 2018: Euros per share Number of shares Acquisition price Trading price Market value(*) % Treasury shares at 12/31/20 98,231,380 4.84 3.25 319 1.77748 % Treasury shares at 12/31/19 77,562,635 9.88 6.23 483 1.49385 % Treasury shares at 12/31/18 65,496,120 10.48 7.34 481 1.26145 % (*) Millions of euros. The following transactions involving treasury shares were carried out in 2020, 2019 and 2018: Number of shares Treasury shares at 12/31/17 65,687,859 Acquisitions — Employee share option plan (191,739) Treasury shares at 12/31/18 65,496,120 Acquisitions 14,033,446 Employee share option plan (1,966,931) Treasury shares at 12/31/19 77,562,635 Acquisitions 68,640,303 Scrip dividend 6,252,817 Employee share option plan (3,118,898) Other movements (51,105,477) Treasury shares at 12/31/20 98,231,380 |
Schedule of 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 balance for the 2020, 2019 and 2018 consolidated statements of financial position are as follows: Millions of euros Balance at 12/31/19 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 12/31/20 Telefônica Brasil, S.A. 4,442 (2) — (272) 217 (1,296) 17 3,106 Telefónica Deutschland Holding, A.G. 2,544 — — (156) (30) — (12) 2,346 Colombia Telecomunicaciones, S.A., ESP 526 — — — 11 (62) (67) 408 Telefónica Centroamericana Inversiones, S.L. 106 — — (39) (8) (5) 1 55 Telxius Telecom, S.A. 681 323 — (44) 187 (69) 11 1,089 Other 33 — (3) (5) (2) (3) 1 21 Total 8,332 321 (3) (516) 375 (1,435) (49) 7,025 Millions of euros Balance at 12/31/18 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 12/31/19 Telefônica Brasil, S.A. 4,604 (3) — (374) 307 (85) (7) 4,442 Telefónica Deutschland Holding, A.G. 2,873 — — (247) (75) — (7) 2,544 Colombia Telecomunicaciones, S.A., ESP 523 (1) — — 11 4 (11) 526 Telefónica Centroamericana Inversiones, S.L. 316 — (414) — 196 7 1 106 Telxius Telecom, S.A. 677 — — (87) 86 7 (2) 681 Other 40 — — (2) (3) — (2) 33 Total 9,033 (4) (414) (710) 522 (67) (28) 8,332 Millions of euros Balance at 12/31/17 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 12/31/18 Telefônica Brasil, S.A. 5,018 — — (406) 556 (550) (14) 4,604 Telefónica Deutschland Holding, A.G. 3,114 — — (238) (88) — 85 2,873 Colombia Telecomunicaciones, S.A., ESP 523 — — — 41 (19) (22) 523 Telefónica Centroamericana Inversiones, S.L. 307 — — (28) 30 7 — 316 Telxius Telecom, S.A. 694 139 — (231) 80 5 (10) 677 Other 42 — 1 (3) — (1) 1 40 Total 9,698 139 1 (906) 619 (558) 40 9,033 |
Schedule of Condensed Financial Statements of Non-controlling Interests | Note 4 contains the revenues, OIBDA, Operating income, capital expenditure and the main items of the statement of financial position for the main segments of the Telefónica Group with non-controlling interests, namely Telefónica Brazil, Telefónica Germany and Telxius Group. The detail of these figures for Colombia Telecomunicaciones is as follows: Millions of euros Colombia Telecomunicaciones 2020 2019 2018 Revenues 1,249 1,410 1,468 OIBDA 438 558 556 Depreciation and amortization (325) (386) (385) Operating income 113 172 171 Capital Expenditure 156 309 192 Fixed Assets 1,530 1,904 1,950 Total allocated assets 2,864 3,296 3,073 Total allocated liabilities 2,049 1,825 1,615 |
Schedule of Subsidiary Cash Flows | The statements of cash flows of these companies are as follows: Millions of euros Telefónica Brazil 2020 2019 2018 Net cash flow provided by operating activities 3,517 4,231 3,599 Net cash flow used in investing activities (1,238) (1,900) (2,012) Net cash flow used in financing activities (1,817) (2,230) (1,660) 462 101 (73) Millions of euros Telefónica Germany 2020 2019 2018 Net cash flow provided by operating activities 2,386 2,249 1,898 Net cash flow used in investing activities (459) (1,194) (1,137) Net cash flow used in financing activities (1,342) (997) (569) 585 58 192 Millions of euros Colombia Telecomunicaciones 2020 2019 2018 Net cash flow provided by operating activities 276 237 344 Net cash flow provided by (used in) investing activities (189) 15 (167) Net cash flow provided by (used in) financing activities (42) (169) (229) 45 83 (52) Millions of euros Telxius 2020 2019 2018 Net cash flow provided by operating activities 528 463 341 Net cash flow provided by (used in) investing activities (1,141) (199) (175) Net cash flow provided by (used in) financing activities 575 (251) (239) (38) 13 (73) |
Financial Liabilities (Tables)
Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Schedule of Maturity of Debentures and Bonds | The breakdown of financial liabilities at December 31, 2020 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2021 2022 2023 2024 2025 Subsequent years Non-current total Total Debentures and bonds 4,832 3,683 2,301 1,138 3,075 23,720 33,917 38,749 Promissory notes & commercial paper 1,551 — 140 263 319 — 722 2,273 Total Issues 6,383 3,683 2,441 1,401 3,394 23,720 34,639 41,022 Loans and other payables 1,045 216 755 436 967 1,116 3,490 4,535 Derivative instruments (Note 19) 695 344 136 155 74 3,459 4,168 4,863 Total 8,123 4,243 3,332 1,992 4,435 28,295 42,297 50,420 The detail and key features of outstanding debentures and bonds at December 31, 2020 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 999 999 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,499 1,499 EMTN O2 GBP GBP 5.375 % — — — — — 557 557 TELEF. EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,630 1,630 TELEF. EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0,83% 55 — — — — — 55 TELEF. EMISIONES MAY 2014 EUR 2.242 % — 1,015 — — — — 1,015 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — 724 — — — — 724 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 445 445 TELEF. EMISIONES FEBRUARY 2011 USD 5.462 % 1,223 — — — — — 1,223 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — 139 — — — — 139 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — 1,500 — — — 1,500 TELEF. EMISIONES MARCH 2013 EUR 3.961 % 872 — — — — — 872 TELEF EMISIONES APRIL 2013 USD 4.570 % — — 611 — — — 611 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0,83% — 67 — — — — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % 759 — — — — — 759 TELEF EMISIONES APRIL 2016 EUR 0.750 % — 1,110 — — — — 1,110 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — 1,250 — 1,250 Total Telefónica and its instrumental companies (cont.) Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,223 1,223 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,630 1,630 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 163 163 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 408 408 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2018 EUR 1.447 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2018 USD 4.895 % — — — — — 1,019 1,019 TELEF. EMISIONES MARCH 2018 USD 4.665 % — — — — — 611 611 TELEF. EMISIONES SEPTEMBER 2018 EUR 1.495 % — — — — 1,000 — 1,000 TELEF. EMISIONES FEBRUARY 2019 GREEN B. EUR 1.069 % — — — 1,000 — — 1,000 TELEF. EMISIONES MARCH 2019 EUR 1.788 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2019 USD 5.520 % — — — — — 1,019 1,019 TELEF. EMISIONES JULY 2019 EUR 1.957 % — — — — — 500 500 TELEF. EMISIONES MAY 2020 EUR 1.201 % — — — — — 1,250 1,250 TELEF. EMISIONES FEBRUARY 2020 EUR 0.664 % — — — — — 1,000 1,000 TELEF. EMISIONES MAY 2020 EUR 1.807 % — — — — — 750 750 TELEF. EMISIONES JULY 2020 EUR 1.864 % — — — — — 500 500 Telefónica Emisiones, S.A.U. 2,909 3,055 2,111 1,000 2,250 19,705 31,030 Exchangeable Bond MARCH 2016 (*) EUR — 600 — — — — — 600 Telefónica Participaciones — 600 — — — — — 600 Total Telefónica, S.A. and its instrumental companies 3,509 3,055 2,111 1,000 2,250 21,204 33,129 (*) 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 2021 2022 2023 2024 2025 Subsequent years Total Bond T CLP 4.900 % 22 — 22 — — — 44 144A Bond USD 3.875 % — 408 — — — — 408 Telefónica Chile, S.A. 22 408 22 — — — 452 Bond F UF 3.600 % — — 100 — — — 100 Bond O CLP 3.500 % — — — — 80 — 80 Bond K CLP 4.900 % 108 — — — — — 108 Telefónica Móviles Chile, S.A. 108 — 100 — 80 — 288 Foreign operators (cont.) Maturity Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3,625% — — — — — 20 20 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2,875% — — — — — 16 16 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3,125% — — — — — 15 15 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3,1875% — — — — — 6 6 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3,500% 7 — — — — — 7 Bond T. Peru 6th Program (17th Serie A) N. SOL VAC + 3,09375% — — — — — 14 14 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — 59 — — — 59 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.188 % — — — 27 — — 27 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — 32 — — — — 32 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.344 % — 23 — — — — 23 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.469 % — — — 30 — — 30 Bond T. Peru 6th Program (16th Serie A) N. SOL 5.500 % — — — — 24 — 24 Bond T. Peru 6th Program (12th Serie B) N. SOL 4.188 % 16 — — — — — 16 Bond T. Peru 1st Private Program (1st Serie A) N. SOL 7.281 % — — — — — 18 18 Bond T. Peru 1st Program International Issue (1sr Serie A) N. SOL 7.375 % — — — — 128 255 383 Telefónica del Perú, S.A. 23 55 59 57 152 344 690 Nonconvertible bonds BRL 1,0825 XCDI 157 157 — — — — 314 Nonconvertible bonds (Telemig) I BRL IPCA + 0,5% — — — — — — — Nonconvertible bonds (Telemig) II BRL IPCA + 0,5% 1 — — — — — 1 Nonconvertible bonds (Telemig) III BRL IPCA + 0,5% 1 — — — — — 1 Telefônica Brasil, S.A. 159 157 — — — — 316 BOND R144-A USD 4.950 % — — — — — 408 408 Bond A5 COP 6.650 % — — — 83 — — 83 Bond C10 COP IPC + 3,39% — — — — — 36 36 Colombia Telecomunicaciones, S.A, ESP — — — 83 — 444 527 Bond EUR 2.375 % 500 — — — — — 500 Bond EUR 1.750 % — — — — 600 — 600 O2 Telefónica Deutschland Finanzierungs, GmbH 500 — — — 600 — 1,100 Total Outstanding Debentures and Bonds Foreign operators 812 620 181 140 832 788 3,373 Total Outstanding Debentures and Bonds 4,321 3,675 2,292 1,140 3,082 21,992 36,502 |
Schedule of Financial Liabilities | The composition of these financial liabilities by category at December 31, 2020 and 2019 is as follows: December 31, 2020 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 — — — — — — 41,022 41,022 46,624 Loans and other payables — — — — — — 4,535 4,535 4,595 Derivative instruments 1,208 — 3,655 4 4,859 — — 4,863 4,863 Total financial liabilities 1,208 — 3,655 4 4,859 — 45,557 50,420 56,082 December 31, 2019 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 — — — — — — 44,994 44,994 49,474 Loans and other payables — — — — — — 4,488 4,488 4,511 Derivative instruments 961 — 1,921 59 2,823 — — 2,882 2,882 Total financial liabilities 961 — 1,921 59 2,823 — 49,482 52,364 56,867 |
Schedule of Reconciliation of Changes in Financial Liabilities | The movement in issues, promissory notes, commercial paper, loans and other payables in 2020 and 2019 arising from financial activities is as follows: Cash used in financing activities Millions of euros Balance at 12/31/2019 Cash received Cash paid Translation differences and exchange gains and losses Financial updates Other movements Balance at 12/31/2020 Issues 42,636 4,011 (6,728) (1,501) 344 (13) 38,749 Promissory notes and commercial paper 2,358 276 (343) (16) — (2) 2,273 Loans and other payables 4,488 3,121 (2,605) (290) 23 (202) 4,535 Cash used in financing activities Millions of euros Balance at 12/31/2018 First application of IFRS 16 Cash received Cash paid Translation differences and exchange gains and losses Financial updates Other movements Balance at 12/31/2019 Issues 41,176 — 4,186 (3,653) 427 494 6 42,636 Promissory notes and commercial paper 2,454 — 412 (512) 1 1 2 2,358 Loans and other payables 8,555 (151) 1,138 (6,076) 55 25 942 4,488 |
Schedule of Interest-Bearing Debt | Interest-bearing debt arranged or repaid in 2020 mainly includes the following: Description Limit 12/31/2020 (million euros) Currency Outstanding balance 12/31/2020 (million euros) Arrangement date Maturity date Drawndown 2020 (million euros) Repayment 2020 (million euros) Telefónica, S.A. Bilateral Credit (1) 135 EUR — 05/14/2019 05/14/2024 — — Bilateral loan — EUR 150 11/08/2019 03/12/2030 150 — Bilateral loan — EUR 200 12/04/2019 05/06/2027 200 — Bilateral loan (2) 200 EUR — 12/18/2020 06/18/2024 — — Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 02/25/2020 03/24/2025 175 — Syndicated loan (3) — USD 204 03/18/2020 03/18/2025 261 (61) Telefónica Germany GmbH & Co. OHG EIB Financing (Tranche 2) 150 EUR — 01/14/2020 07/14/2029 — — T. Móviles Chile, S.A. Bilateral loan (4) — USD 114 04/17/2020 09/29/2023 114 — T. UK Limited Syndicated loan (5) — GBP — 05/07/2020 09/29/2020 — — (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 million to USD 250 million. (4) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (5) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six The main debentures and bonds issued by the Group in 2020 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 02/03/2020 02/03/2030 1,000 1,000 EUR 0.664 % EMTN Bond 05/21/2020 08/21/2027 1,250 1,250 EUR 1.201 % EMTN Bond 05/21/2020 05/21/2032 750 750 EUR 1.807 % EMTN Bond 07/13/2020 07/13/2040 500 500 EUR 1.864 % Colombia Telecomunicaciones S.A E.S.P. Bond 07/17/2020 07/17/2030 500 408 USD 4.950 % The main financing transactions at December 31, 2020 and 2019 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2020 12/31/2019 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 18 USD 15 53 05/03/2011 07/30/2021 Structured Financing (*) 199 USD 162 282 02/22/2013 01/31/2023 Structured Financing (*) 187 USD 152 243 08/01/2013 10/31/2023 Structured Financing (*) 414 USD 338 448 12/11/2015 03/11/2026 Structured Financing (*) 281 EUR 281 341 12/11/2015 03/11/2026 Credit 100 GBP 111 117 05/23/2013 03/01/2023 Bilateral credit (1) 135 EUR — — 05/14/2019 05/14/2024 Bilateral loan — EUR 200 200 07/11/2019 08/14/2026 Bilateral loan — EUR 150 — 11/08/2019 03/12/2030 Bilateral loan — EUR 200 — 12/04/2019 05/06/2027 Syndicated 5,500 EUR — — 03/15/2018 03/15/2025 Bilateral loan (2) 200 EUR — — 12/18/2020 06/18/2024 Telefónica Germany GmbH & Co. OHG EIB Financing — EUR 333 408 06/13/2016 06/13/2025 Syndicated (3) 750 EUR — — 12/17/2019 12/17/2024 EIB Financing (Tranche 1) 300 EUR — — 12/18/2019 06/18/2029 EIB Financing (Tranche 2) 150 EUR — — 01/14/2020 07/14/2029 Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 — 02/25/2020 03/24/2025 Syndicated (4) — USD 204 — 03/18/2020 03/18/2025 Telxius Telecom, S.A. Syndicated 103 EUR 197 300 12/01/2017 12/01/2024 Bilateral loan — EUR 150 150 11/29/2019 11/29/2021 Telefónica Móviles Chile, S.A. Bilateral loan (5) — USD 114 — 04/17/2020 09/29/2023 T. UK Limited Syndicated (6) — GBP — — 05/07/2020 09/29/2020 (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) The financing matures in 2024, with two annual extension options at the request of Telefónica Germany GmbH & Co. OHG, for a maximum maturity in 2026. (4) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 millions to USD 250 millions. (5) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (6) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six-months extension options at T. UK Limited request with a maturity up to 2022. |
Schedule of Loans and Advances to Customers | The breakdown of “Loans and other payables” line by currency at December 31, 2020 and 2019, and the equivalent value of foreign-currency loans in euros, is as follows: Outstanding balance (in millions) Local Currency Euros Currency 12/31/2020 12/31/2019 12/31/2020 12/31/2019 Euro 2,557 2,484 2,557 2,484 U.S. dollar 1,707 1,522 1,391 1,355 Brazilian real 376 1,527 59 337 Colombian peso 899,695 166,616 214 45 Pounds sterling 100 100 111 117 Peruvian nuevo sol 14 54 3 14 Other currencies 200 136 Total Group 4,535 4,488 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Risk Management Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Schedule of Sensitivity Analysis | The following table illustrates the sensitivity of foreign currency gains and sensitivity 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 2020 was considered constant during 2021; 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, breakdown of which is considered constant in 2021 and identical to that existing at the end of 2020. In both cases, Latin American currencies are assumed to 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% (55) (711) USD vs EUR 10% (23) (101) Other currencies vs EUR 10% (44) (373) Latin American currencies vs USD 10% 12 (237) All currencies vs EUR (10%) 55 711 USD vs EUR (10%) 23 101 Other currencies vs EUR (10%) 44 373 Latin American currencies vs USD (10%) (12) 237 Millions of euros Change in basis points (bp) Impact on consolidated income statement Impact on consolidated equity +100bp (100) (858) -100bp 97 858 |
Disclosure Of Detailed Information About Hedging Instruments | The detail of notional amounts of the hedging instruments in hedging relationships which are subject to the reform as of December 31, 2020 is as follows: Interest rate index/Tenor Gross notional in original currency (in millions) USD Libor 3M 39,048 GBP Libor 3M 2,200 CHF Libor 3M 300 USD Libor 1M 150 USD Libor 6M 140 |
Schedule of Financial Results | The breakdown of the financial results recognized in 2020, 2019 and 2018 is as follows: Millions of euros 2020 2019 2018 Interest income 185 291 234 Dividends received 12 15 15 Other financial income 159 120 826 Subtotal 356 426 1,075 Changes in fair value of asset derivatives at fair value through profit or loss 255 353 202 Changes in fair value of liability derivatives at fair value through profit or loss (507) (376) (190) Changes in the fair value of debt instruments and other assets at fair value to profit or loss (3) (3) (3) Transfer from equity of results of cash flow hedges - future cash flows that are not longer expected to happen — — (7) (Loss)/Gain on fair value hedges 563 604 (223) Gain/(loss) on adjustment to items hedged by fair value hedges (525) (540) 271 Subtotal (217) 38 50 Interest expenses (1,320) (1,690) (1,715) Financial expenses on lease liabilities (see Note 20) (193) (213) n.a. Ineffective portion of cash flow hedges 45 (20) (29) Accretion of provisions and other liabilities (280) (334) (410) Other financial expenses (131) (160) (203) Subtotal (1,879) (2,417) (2,357) Net finance costs excluding foreign exchange differences and hyperinflation adjustments (1,740) (1,953) (1,232) |
Schedule of Derivatives, Fair Value, and Expected Maturity | The movement of the net position of derivatives during the years ended December 31, 2020 and December 31, 2019 is as follows: Millions of euros Movement in 2020 Movement in 2019 Opening balance of assets/(liabilities) 1,948 1,181 Financing payments 139 148 Financing proceeds (1,119) (153) Interest (proceeds)/payments (549) (238) Other (proceeds)/payments (11) 5 Fair value adjustments through other comprehensive income (870) 357 Movements with counterparty in the income statement 638 646 Translation differences (170) (49) Other movements 7 51 Closing balance of assets/(liabilities) 13 1,948 The breakdown of Telefónica’s detail of hedges and other derivative instruments at December 31, 2020 and December 31, 2019, their fair value at year-end and the expected maturity schedule is as set forth in the table below: December 31, 2020 Notional amount - Maturities (*) Book value of the derivative and no-derivative instruments (**) Millions of euros 2021 2022 2023 Later Total Non-current asset Current asset Non-current liabilities Current liabilities Total Derivate instruments of accounting hedges (5,576) 415 (679) 8,205 2,365 (2,958) (827) 3,459 196 (130) Interest rate risk (348) (491) (801) (2,667) (4,307) (1,196) (524) 79 6 (1,635) Cash flow hedges 1 67 — 994 1,062 (2) (3) 69 6 70 Fair value hedges (349) (558) (801) (3,661) (5,369) (1,194) (521) 10 — (1,705) Exchange rate risk (5,362) 717 — 8,242 3,597 (1,361) (162) 2,607 147 1,231 Cash flow hedges 848 711 — 8,242 9,801 (1,361) (91) 2,607 72 1,227 Fair value hedges 144 6 — — 150 — (6) — 9 3 Net investments hedges (6,354) — — — (6,354) — (65) — 66 1 Interest rate and exchange rate risk 134 189 122 2,630 3,075 (401) (141) 773 43 274 Cash flow hedges 247 189 668 2,630 3,734 (232) (93) 748 2 425 Fair value hedges (113) — (546) — (659) (169) (48) 25 41 (151) Undesignated derivatives (7,382) (519) (258) (1,541) (9,700) (708) (383) 709 499 117 Other derivatives of interest rate (4,287) (673) (258) (1,541) (6,759) (629) (141) 625 2 (143) Other derivatives of exchange rate (3,856) — — — (3,856) (79) (240) 84 239 4 Other derivatives 761 154 — — 915 — (2) — 258 256 Total derivative instruments (12,958) (104) (937) 6,664 (7,335) (3,666) (1,210) 4,168 695 (13) No derivatives instruments of accounting hedges (***) — — — 680 680 — — 705 — 705 Exchange rate risk — — — 680 680 — — 705 — 705 Fair value hedges — — — — — — — — — — Net investments hedges — — — 680 680 — — 705 — 705 (*) 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. (***) Of the hedging instruments that are not derivatives,122 million euros correspond to "Loans and other debts" and 583 million euros to "Obligations and bonds" (see Note 18). December 31, 2019 Notional amount - Maturities (*) Book value of the derivative and no-derivative instruments (**) Millions of euros 2020 2021 2022 Later Total Non-current asset Current asset Non-current liabilities Current liabilities Total Derivate instruments of accounting hedges (662) 2,827 1,446 7,041 10,652 (2,676) (1,104) 1,667 254 (1,859) Interest rate risk 677 (199) 818 (1,605) (309) (584) (289) 41 38 (794) Cash flow hedges 482 — 1,403 884 2,769 (8) (4) 29 38 55 Fair value hedges 195 (199) (585) (2,489) (3,078) (576) (285) 12 — (849) Exchange rate risk (2,331) 1,038 400 6,033 5,140 (1,489) (389) 1,339 148 (391) Cash flow hedges 1,587 1,102 686 6,033 9,408 (1,325) (348) 1,337 37 (299) Fair value hedges 693 — (286) — 407 (164) (21) — 15 (170) Net investments hedges (4,611) (64) — — (4,675) — (20) 2 96 78 Interest rate and exchange rate risk 992 1,988 228 2,613 5,821 (603) (426) 287 68 (674) Cash flow hedges 1,006 2,004 230 2,648 5,888 (549) (409) 287 65 (606) Fair value hedges (14) (16) (2) (35) (67) (54) (17) — 3 (68) Undesignated derivatives (3,798) (349) (774) (1,799) (6,720) (713) (337) 691 270 (89) Other derivatives of interest rate (1,501) (473) (774) (1,799) (4,547) (713) (316) 688 146 (195) Other derivatives of exchange rate (2,484) — — — (2,484) — (21) — 113 92 Other derivatives 187 124 — — 311 — — 3 11 14 Total derivative instruments (4,460) 2,478 672 5,242 3,932 (3,389) (1,441) 2,358 524 (1,948) No derivatives instruments of accounting hedges (***) — 59 234 720 1,013 — — 1,043 — 1,043 Exchange rate risk — 59 234 720 1,013 — — 1,043 — 1,043 Fair value hedges — — — — — — — — — — Net investments hedges — 59 234 720 1,013 — — 1,043 — 1,043 (*) 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. (***) Of the hedging instruments that are not derivatives, 251 million euros correspond to "Loans and other debts" and 792 million euros to "Obligations and bonds" (see Note 18). The detail of hedged items by fair value hedges at December 31, 2020 and December 31, 2019 are as follows: December 31, 2020 Hedged items carrying amount Accumulated amount in the hedged item adjusted by fair value hedge (*) Millions of euros Interest rate risk Exchange rate risk Interest rate and exchange rate risk Total Interest rate risk Exchange rate risk Interest rate and exchange rate risk Total Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses Assets — 220 — 220 — (6) — (6) — Financial assets and other non-current assets — 82 — 82 — (1) — (1) — Receivables and other current assets — 132 — 132 — (5) — (5) — Other heading of assets — 6 — 6 — — — — — Liabilities 6,888 1,320 2,985 11,193 1,663 9 386 2,058 71 Non-current financial liabilities 6,656 787 2,748 10,191 1,660 — 373 2,033 70 Non-current lease liabilities — 59 — 59 — — — — — Payables and other non-current liabilities 4 28 — 32 — 2 — 2 — Current financial liabilities 228 11 237 476 3 — 13 16 5 Payables and other current liabilities — 435 — 435 — 7 — 7 (4) (*) Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and vice versa. December 31, 2019 Hedged items carrying amount Accumulated amount in the hedged item adjusted by fair value hedge (*) Millions of euros Interest rate risk Exchange rate risk Interest rate and exchange rate risk Total Interest rate risk Exchange rate risk Interest rate and exchange rate risk Total Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses Assets — 474 3 477 — 1 — 1 — Financial assets and other non-current assets — 151 — 151 — — — — — Receivables and other current assets — 323 — 323 — 1 — 1 — Other current financial assets — — 3 3 — — — — — Liabilities 3,929 1,956 5,703 11,588 819 (6) 774 1,587 152 Non-current financial liabilities 3,858 1,176 5,512 10,546 817 — 750 1,567 125 Payables and other non-current liabilities — 99 — 99 — — — — — Current financial liabilities 71 9 191 271 2 — 24 26 6 Payables and other current liabilities — 672 — 672 — (6) — (6) 21 (*) Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and vice versa. The evolutions of hedges in equity at December 31, 2020 and December 31, 2019 are as follows: Derivate instruments No derivate instruments Total Gross amount Tax effect Total hedges in equity Gains (losses) of cash flow hedges Derivates - Net investment hedges No Derivates - Net investment hedges Millions of euros Interest rate risk Exchange rate risk Exchange rate and interest rate risks Balance at 12/31/2019 (148) (156) (310) 1,349 (6) 729 (227) 502 Changes in the fair value registered in equity (71) (923) (476) 713 6 (751) 180 (571) Transfer to the initial value of hedged item 3 (1) (4) — — (2) 1 (1) Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen — — — — — — — — Transfer to the income statement of the period - the hedged item has affected profit or loss 67 633 267 — — 967 (249) 718 Total translation differences (1) — — (1) — (2) — (2) Other movements (4) 4 — — — — — — Balance at 12/31/2020 (154) (443) (523) 2,061 — 941 (295) 646 Amounts remaining in equity for continuing hedges (68) (478) (433) 2,061 — 1,082 Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied (86) 35 (90) — — (141) Balance at 12/31/2020 (154) (443) (523) 2,061 — 941 The total amount of "Transfer to the income statements of the period - the hedged item has affected profit or loss" has impacted in financial results, reported under "Interest expenses" amounted to +116 million euros (+166 million euros in 2019), see detail of "Net finance costs excluding foreign exchange differences and hyperinflation adjustments" in this note, and in exchange differences amounted to -1,093 million euros (+369 million euros in 2019). Derivate instruments No derivate instruments Total Gross amount Tax effect Total hedges in equity Gains (losses) of cash flow hedges Derivates - Net investment hedges No Derivates - Net investment hedges Millions of euros Interest rate risk Exchange rate risk Exchange rate and interest rate risks Balance at 12/31/2018 (295) (348) (78) 1,535 (5) 809 (249) 560 Changes in the fair value registered in equity (5) 572 67 (260) (1) 373 (100) 273 Transfer to the initial value of hedged item 2 (4) (7) — — (9) 3 (6) Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen 26 — — — — 26 — 26 Transfer to the income statement of the period - the hedged item has affected profit or loss 124 (371) (295) 73 — (469) 118 (351) Total translation differences — (1) — 1 — — — — Other movements — (4) 3 — — (1) 1 — Balance at 12/31/2019 (148) (156) (310) 1,349 (6) 729 (227) 502 Amounts remaining in equity for continuing hedges (12) (188) (216) 1,349 (6) 927 Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied (136) 32 (94) — — (198) Balance at 12/31/2019 (148) (156) (310) 1,349 (6) 729 The evolution of cost of hedging in equity in 2020 and 2019 are as follows: Exchange rate risk Total gross amount Tax effect Total cost of hedging in equity Forward element /CBS Millions of euros A time - period related hedge item Balance at 12/31/2018 49 49 (12) 37 Changes in the fair value registered in equity (14) (14) 4 (10) Transfer to the income statement of the period - the hedged item has affected profit or loss (4) (4) 1 (3) Balance at 12/31/2019 31 31 (7) 24 Changes in the fair value registered in equity (98) (98) 24 (74) Transfer to the income statement of the period - the hedged item has affected profit or loss (8) (8) 2 (6) Balance at 12/31/2020 (75) (75) 19 (56) The details of the ineffective portion of accounting hedges with impact on the income statement in 2020 and 2019 are as follows: 2020 Millions of euros Changes in fair value of the hedging instrument Changes in the fair value of hedges item for the hedged risk Ineffective portion hedged registered in the income statement Interest rate risk 289 288 1 Cash flow hedges (22) (23) 1 Fair value hedges 311 311 — Exchange rate risk (461) (508) 47 Cash flow hedges (917) (964) 47 Net investment hedges 456 456 — Interest rate and exchange rate risk (238) (234) (4) Cash flow hedges (238) (234) (4) Total (410) (454) 44 2019 Millions of euros Changes in fair value of the hedging instrument Changes in the fair value of hedges item for the hedged risk Ineffective portion hedged registered in the income statement Interest rate risk 315 336 (21) Cash flow hedges (129) (108) (21) Fair value hedges 444 444 — Exchange rate risk 242 238 4 Cash flow hedges 551 547 4 Net investment hedges (309) (309) — Interest rate and exchange rate risk 191 194 (3) Cash flow hedges 191 194 (3) Total 748 768 (20) |
Lease Liabilities (Tables)
Lease Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of leases [Abstract] | |
Schedule of Movement of Lease Liabilities | The evolution of lease liabilities in 2020 and 2019 were as follows: Millions of euros Lease liabilities Balance at 12/31/2019 7,226 Additions 1,969 Principal and interests payments (1,761) Principal payments (Note 28) (1,787) Interests payments (Note 28) (179) Minus: Payments of companies held for sale 205 Disposals (387) Exclusion of companies — Accrued interests (1) 178 Translation differences and hyperinflation adjustments (766) Transfers and others (1,165) Balance at 12/31/2020 5,294 (1) Total accrued interests in 2020 amounted to 193 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 19). Millions of euros Lease liabilities Balance at 12/31/2018 — First application impacts due to accounting changes IFRS16 (Note 2) 7,705 Balance at 01/01/2019 7,705 Additions 1,474 Principal and interests payments (1,654) Principal payments (Note 28) (1,518) Interests payments (Note 28) (185) Minus: Payments of companies held for sale and sold companies during 2019 49 Disposals (261) Exclusion of companies (121) Accrued interests (1) 199 Translation differences and hyperinflation adjustments 23 Transfers and others (139) Balance at 12/31/2019 7,226 (1) Total accrued interests in 2019 amounted to 213 million euros, including the additions corresponding to companies held for sale during the annual reporting period (see Note 19). |
Schedule of Maturity of Lease Liabilities | The maturity schedule of lease liabilities at December 31, 2020 is as follows: Millions of euros Current Non-Current Maturity 2021 2022 2023 2024 2025 Subsequent years Non-current total Total Lease liabilities 1,330 1,052 935 747 569 1,346 4,649 5,979 |
Payables and Other Non-curren_2
Payables and Other Non-current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Composition of Payables and Other Non-Current Liabilities | The composition of “Payables and other non-current liabilities” of the Telefónica Group at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Payables 1,452 1,553 Trade payables 101 86 Payables for spectrum acquisition 1,195 1,362 Other payables 156 105 Other non-current liabilities 1,109 1,375 Contractual liabilities (Note 23) 762 851 Deferred revenue 193 336 Current tax payables 154 188 Total 2,561 2,928 |
Payables and Other Current Li_2
Payables and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Composition of Payables and Other Current Liabilities | The composition of “Payables and other current liabilities” at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Payables 9,626 13,307 Trade payables 5,913 8,095 Payables to suppliers of property, plant and equipment 2,428 3,019 Payables for spectrum acquisition 178 196 Other payables 881 1,081 Dividends pending payment 215 282 Associates and joint ventures payables (Note 10) 11 634 Other current liabilities 1,286 1,596 Contract liabilities (Note 23) 976 1,283 Deferred revenue 93 120 Advances received 217 193 Total 10,912 14,903 |
Schedule of Current Other Payables | The composition of current "Other payables" at December 31, 2020 and December 31, 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Accrued employee benefits 465 603 Other non-financial non-trade payables 416 478 Total 881 1,081 |
Schedule of 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: 2020 2019 Number of days Weighted average maturity period 53 53 Ratio of payments 55 55 Ratio of outstanding invoices 40 38 Millions of euros Total payments 7,311 7,337 Outstanding invoices 1,164 1,152 |
Breakdown of Contractual Asse_2
Breakdown of Contractual Assets and Liabilities, and Capitalized Costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue From Contracts With Customers [Abstract] | |
Movement of contractual assets and contractual liabilities | The movement of contractual assets and capitalized costs in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/19 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/20 Long-term contractual assets (Note 12) 138 212 (6) (196) (3) — 145 Contractual assets 144 213 (6) (202) (3) — 146 Impairment losses (6) (1) — 6 — — (1) Short-term contractual assets (Note 14) 351 272 (392) (103) (24) — 104 Contractual assets 381 275 (400) (116) (27) — 113 Impairment losses (30) (3) 8 13 3 — (9) Total 489 484 (398) (299) (27) — 249 Millions of euros Balance at 12/31/18 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/19 Long-term contractual assets (Note 12) 108 204 (7) (172) 5 — 138 Contractual assets 114 204 (7) (173) 5 1 144 Impairment losses (6) — — 1 — (1) (6) Short-term contractual assets (Note 14) 341 662 (816) 156 9 (1) 351 Contractual assets 364 677 (824) 157 9 (2) 381 Impairment losses (23) (15) 8 (1) — 1 (30) Total 449 866 (823) (16) 14 (1) 489 The movement of contractual liabilities of contracts with customers in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/19 Additions Disposals (previous years) Disposals (current year) Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/20 Long-term contractual liabilities (Note 21) 851 452 (15) — (495) (31) — 762 Short-term contractual liabilities (Note 22) 1,283 5,111 (655) (4,647) (56) (60) — 976 Total 2,134 5,563 (670) (4,647) (551) (91) — 1,738 Millions of euros Balance at 12/31/18 Additions Disposals (previous years) Disposals (current year) Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/19 Long-term contractual liabilities (Note 21) 613 409 (3) (4) (180) 16 — 851 Short-term contractual liabilities (Note 22) 1,335 7,516 (598) (7,149) 165 18 (4) 1,283 Total 1,948 7,925 (601) (7,153) (15) 34 (4) 2,134 |
Movement of deferred expenses | The movement of the deferred expenses in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/19 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/20 Non-current capitalized costs (Note 12) 221 446 (2) (318) (16) — 331 Of obtaining a contract 191 369 (2) (337) (9) — 212 Of fulfilling a contract 30 77 — 19 (7) — 119 Impairment losses — — — — — — — Current capitalized costs (Note 14) 625 459 (774) 302 (32) — 580 Of obtaining a contract 573 361 (652) 210 (23) — 469 Of fulfilling a contract 52 98 (122) 92 (9) — 111 Impairment losses — — — — — — — Total 846 905 (776) (16) (48) — 911 Millions of euros Balance at 12/31/18 Additions Disposals Transfers Translation differences and hyperinflation adjustments Other movements Balance at 12/31/19 Non-current capitalized costs (Note 12) 191 413 (3) (381) — 1 221 Of obtaining a contract 178 368 (3) (353) 1 — 191 Of fulfilling a contract 13 45 — (28) (1) 1 30 Impairment losses — — — — — — — Current capitalized costs (Note 14) 566 473 (796) 379 5 (2) 625 Of obtaining a contract 541 428 (752) 351 6 (1) 573 Of fulfilling a contract 25 45 (44) 28 (1) (1) 52 Impairment losses — — — — — — — Total 757 886 (799) (2) 5 (1) 846 |
Maturity schedule of contractual liabilities | The maturity schedule of contractual liabilities at December 31, 2020 is as follows: Millions of euros 2021 2022 2023 Subsequent years Total Contractual liabilities, activation fees 62 10 3 3 78 Contractual liabilities, sales of prepay cards 469 — — — 469 Contractual liabilities, services 338 155 1 14 508 Contractual liabilities, sales of handsets 20 2 — — 22 Contractual liabilities, sales of other equipments 2 — — 5 7 Contractual liabilities, irrevocable rights to use 55 49 46 408 558 Other contractual liabilities 30 46 3 17 96 Maturity of performance obligations 976 262 53 447 1,738 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Employee Benefits [Abstract] | |
Schedule of Amounts of Provisions | The amounts of provisions in 2020 and 2019 are as follows: 12/31/2020 12/31/2019 Millions of euros Current Non-current Total Current Non-current Total Employee benefits 930 4,960 5,890 1,110 5,789 6,899 Termination plans 306 479 785 486 729 1,215 Post-employment defined benefit plans 8 484 492 11 565 576 Other benefits 616 3,997 4,613 613 4,495 5,108 Dismantling of assets 32 645 677 96 847 943 Other provisions 342 1,552 1,894 466 1,850 2,316 Total 1,304 7,157 8,461 1,672 8,486 10,158 |
Schedule of Distribution by Segment of Restructuring Costs | The distribution by segment of the restructuring costs, in terms of their impact on operating income, is as follows: Millions of euros 2020 2019 Telefónica Spain (2) 1,733 Telefónica United Kingdom — 31 Telefónica Germany 37 22 Telefónica Hispam 17 235 Other companies 19 149 Total 71 2,170 |
Schedule of Movement in Provisions for Post-Employment Plans | The movement in provisions for termination plans in 2020 and 2019 is as follows: Millions of euros Total Provisions for termination plans at 12/31/18 1,246 Additions 452 Retirements/amount applied (496) Translation differences, hyperinflation adjustments and accretion 11 Other 2 Provisions for termination plans at 12/31/19 1,215 Additions 73 Retirements/amount applied (456) Transfers (14) Translation differences, hyperinflation adjustments and accretion (33) Provisions for termination plans at 12/31/20 785 |
Schedule of Main Data of 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: 12/31/2020 Millions of euros United Germany Brazil Hispam Others Total Obligation — 350 643 74 19 1,086 Assets — (95) (693) — (13) (801) Net provision before asset ceiling — 255 (50) 74 6 285 Asset ceiling — — 173 — — 173 Total — 255 123 74 6 458 Net provision — 262 149 74 7 492 Net assets — 7 26 — 1 34 12/31/2019 Millions of euros United Germany Brazil Hispam Others Total Obligation 1,858 304 982 78 17 3,239 Assets (1,839) (93) (1,038) — (12) (2,982) Net provision before asset ceiling 19 211 (56) 78 5 257 Asset ceiling — — 262 — — 262 Total 19 211 206 78 5 519 Net provision 19 218 255 78 6 576 Net assets — 7 49 — 1 57 The following tables present the main data of this plan at December 31, 2020: Millions of euros Obligation 1,979 Assets (2,019) Total (40) Net provision 4 Net assets 44 |
Schedule of Movement in the Present Value of Obligations | The movement in the present value of obligations in 2020 and 2019 is as follows: Millions of euros United Kingdom Germany Brazil Hispam Other Total Present value of obligation at 12/31/2018 1,548 239 749 74 18 2,628 Translation differences 86 — (21) (1) — 64 Current service cost — 11 4 (2) 1 14 Interest cost 44 5 67 11 — 127 Actuarial losses and gains 226 53 233 4 (1) 515 Benefits paid (46) (4) (50) (4) (1) (105) Plan curtailments — — — 1 — 1 Other movements — — — (5) — (5) Present value of obligation at 12/31/2019 1,858 304 982 78 17 3,239 Translation differences (38) — (280) (12) (1) (331) Current service cost — 10 5 4 1 20 Interest cost — 3 55 4 — 62 Actuarial losses and gains — 37 (81) 4 — (40) Benefits paid — (4) (38) (3) (1) (46) Transfers (1,820) — — — — (1,820) Other movements — — — (1) 3 2 Present value of obligation at 12/31/2020 — 350 643 74 19 1,086 The movement in the present value of obligations in 2020 is as follows: Millions of euros Present value of obligation at 12/31/2019 1,858 Translation differences (101) Interest cost 36 Actuarial losses and gains 234 Benefits paid (48) Present value of obligation at 12/31/2020 1,979 |
Schedule of Movement in the Fair Value of Plan Assets | Movements in the fair value of plan assets in 2020 and 2019 are as follows: Millions of euros United Kingdom Germany Brazil Other Total Fair value of plan assets at 12/31/2018 1,570 90 848 12 2,520 Translation differences 86 — (22) — 64 Interest income 46 2 76 — 124 Actuarial losses and gains 157 2 181 — 340 Company contributions 27 — — — 27 Participants contributions — 3 — — 3 Benefits paid (46) (2) (44) — (92) Other movements (1) (2) (1) — (4) Fair value of plan assets at 12/31/2019 1,839 93 1,038 12 2,982 Translation differences (36) — (297) (1) (334) Interest income — 1 57 — 58 Actuarial losses and gains — 1 (57) — (56) Company contributions — 2 — — 2 Benefits paid — (2) (36) — (38) Transfers (1,803) — — 2 (1,801) Other movements — — (12) — (12) Fair value of plan assets at 12/31/2020 — 95 693 13 801 Movements in the fair value of plan assets in 2020 are as follows : Millions of euros Fair value of plan assets at 12/31/2019 1,839 Translation differences (99) Interest income 36 Company contributions 90 Benefits paid (48) Actuarial losses and gains 203 Other movements (2) Fair value of plan assets at 12/31/2020 2,019 Fair value of Plan assets is as follows: Millions of euros 12/31/2020 12/31/2019 Credit instruments 1,876 1,710 Cash equivalents 143 129 Total 2,019 1,839 |
Schedule of Main Actuarial Assumptions Used in Valuing Plans | The main actuarial assumptions used in valuing the plan are as follows: 12/31/2020 12/31/2019 Nominal rate of pension payment increase 2.75 % 2.90 % Discount rate 1.35 % 2.05 % Expected inflation 2.80 % 2.95 % Mortality tables 95% S2NMA/S2NFA 95% S2NA, CMI 2019 1% 7 and a initial addition of 0.25% CMI 2018 1% 7 and a initial addition of 0.25% The main actuarial assumptions used in valuing these plans are as follows: 12/31/2020 12/31/2019 Discount rate 6.37% - 7.88% 6.65% - 7.54% Nominal rate of salary increase 4.58% - 6.35% 5.47 % Long-term inflation rate 3.50 % 3.80 % Growth rate for medical costs 6.61 % 6.91 % Mortality tables AT 2000 M/F AT 2000 M/F |
Schedule of Sensitivity to Changes in Actuarial Assumptions | So long as other assumptions remained constant, at December 31, 2020, reasonably possible changes to one of the following actuarial assumptions 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) 116 Expected inflation (0.25% increase) 111 Life expectancy (1 year longer) 71 The discount rate and 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 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 351 338 366 Health plans 292 271 316 Total obligation 643 609 682 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 351 351 351 Health plans 292 341 253 Total obligation 643 692 604 The table below shows the sensitivity of the value of termination, post-employment and other obligations, including 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 (205) (205) 191 191 |
Schedule of Movement in Other Provisions | The movement of provision for dismantling of assets in 2020 and 2019 is as follows: Millions of euros Dismantling of assets at December 31, 2018 909 Additions and accretion 178 Retirements/amount applied (97) Translation differences and other (47) Dismantling of assets at December 31, 2019 943 Additions and accretion 213 Retirements/amount applied (116) Transfers (296) Translation differences and other (67) Dismantling of assets at December 31, 2020 677 Transfers of 2020 includes the reclassification of provisions for dismantling of assets of Telefónica United Kingdom, amounting to 89 million euros, and t he telecommunications towers division of Telxius, amounting to 212 million euros to "Liabilities associated with non-current assets and disposal groups held for sale" of the statements of financial position (see Note 30). The detail by segments of provision for dismantling of assets in 2020 and 2019 is as follows: Millions of euros 12/31/2020 12/31/2019 Telefónica Spain 6 6 Telefónica Germany 503 421 Telefónica Brazil 64 141 Telefónica United Kingdom — 89 Telefónica Hispam 99 120 Telxius Group — 164 Other companies 5 2 Total 677 943 Millions of euros Other provisions at December 31, 2018 3,138 Reclassification entry into force IFRIC 23 (856) Additions and accretion 946 Retirements/amount applied (841) Transfers 19 Translation differences and other (90) Other provisions at December 31, 2019 2,316 Additions and accretion 568 Retirements/amount applied (500) Transfers (62) Translation differences and other (428) Other provisions at December 31, 2020 1,894 |
Disclosure of Provisions for Tax Proceedings | The balance of these provisions at December 31, 2020 and December 31, 2019 is shown in the following table: Millions of euros 12/31/2020 12/31/2019 Tax proceedings 282 348 Regulatory proceedings 189 253 Labor claims 78 121 Civil proceedings 137 176 Total 686 898 The detail of provisions for tax proceedings by nature of risk is as follows: Millions of euros 12/31/2020 12/31/2019 Federal taxes 98 127 State taxes 98 103 Municipal taxes 6 8 FUST 80 110 Total 282 348 The breakdown of changes in provisions for tax proceedings in 2020 and 2019 is as follows: Millions of euros Balance at 12/31/2018 440 Reclassification entry into force IFRIC 23 (16) Movements with a counterparty in the income statement 7 Write-offs due to payment (83) Monetary updating 6 Translation differences (6) Balance at 12/31/2019 348 Movements with a counterparty in the income statement 21 Write-offs due to payment (4) Monetary updating 22 Translation differences (105) Balance at 12/31/2020 282 |
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, 2020 and December 31, 2019 are as follows: Millions of euros 12/31/2020 12/31/2019 Tax proceedings 228 443 Labor claims 38 70 Civil proceedings 149 232 Regulatory proceedings 42 58 Garnishments 5 8 Total 462 811 Current (see Note 15) 28 61 Non-current (see Note 12) 434 750 |
Tax Matters (Tables)
Tax Matters (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Taxes [Abstract] | |
Schedule of Deferred Taxes Movement | The movements in deferred taxes in the Telefónica Group in 2020 and 2019 are as follows: Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2019 6,682 2,908 Additions 846 600 Disposals (687) (272) Transfers (230) (257) Translation differences and hyperinflation adjustments (211) (344) Company movements and others 16 (15) Balance at December 31, 2020 6,416 2,620 Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2018 7,631 2,674 Reclassification entry into force IFRIC 23 — 313 Additions 1,070 586 Disposals (1,123) (323) Transfers (882) (250) Translation differences and hyperinflation adjustments (33) (87) Company movements and others 19 (5) Balance at December 31, 2019 6,682 2,908 The Group assesses the recoverability of deferred tax assets based 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 in 2020 and 2019 is as follows: Millions of euros 12/31/2020 Total Less than 1 year More than 1 year Deferred tax assets 6,416 944 5,472 Deferred tax liabilities 2,620 (173) 2,793 Millions of euros 12/31/2019 Total Less than 1 year More than 1 year Deferred tax assets 6,682 747 5,935 Deferred tax liabilities 2,908 (17) 2,925 Millions of euros 12/31/2020 12/31/2019 Tax credits for loss carryforwards 2,741 2,884 Unused tax deductions 1,448 1,459 Deferred tax assets for temporary differences 2,227 2,339 Total deferred tax assets 6,416 6,682 The movements in Tax credits for loss carryforwards in the Telefónica Group in 2020 and 2019 are as follows: Location of the company (Millions of euros) Balance at 12/31/2019 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2020 Spain 1,420 3 (140) — — 1,283 Germany 695 183 (64) — (1) 813 Latin America 769 21 (14) — (131) 645 Other countries — — — — — — Total tax credits for loss carryforwards 2,884 207 (218) — (132) 2,741 Location of the company (Millions of euros) Balance at 12/31/2018 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2019 Spain 2,272 — (16) — (836) 1,420 Germany 580 192 (77) — — 695 Latin America 976 25 (202) — (30) 769 Other countries — — — — — — Total tax credits for loss carryforwards 3,828 217 (295) — (866) 2,884 6,803 million euros at December 31, 2020: Millions of euros Total Less than 1 year More than 1 year Tax loss carryforwards generated in the tax group 4,602 645 3,957 Tax loss carryforwards generated before consolidation in the tax group 2,201 — 2,201 The sources of deferred tax assets and liabilities from temporary differences recognized at December 31, 2020 and 2019 are as follows: Millions of euros 12/31/2020 12/31/2019 Goodwill and intangible assets 208 323 Property, plant and equipment 421 520 Personnel commitments 1,493 1,730 Provisions 693 832 Investments in subsidiaries, associates and other shareholdings 6 6 Inventories and receivables 288 273 Rights of use 29 15 Lease liabilities 909 796 Other concepts 483 615 Total deferred tax assets for temporary differences 4,530 5,110 Deferred tax assets and liabilities offset (2,303) (2,771) Total deferred tax assets for temporary differences registered in the statement of financial position 2,227 2,339 Millions of euros 12/31/2020 12/31/2019 Goodwill and intangible assets 1,678 2,115 Property, plant and equipment 1,028 1,203 Personnel commitments 12 7 Provisions 514 385 Investments in subsidiaries, associates and other shareholdings 268 414 Inventories and receivables 12 197 Rights of use 918 800 Other concepts 493 558 Total deferred tax liabilities for temporary differences 4,923 5,679 Deferred tax assets and liabilities offset (2,303) (2,771) Total deferred tax liabilities for temporary differences registered in the statement of financial position 2,620 2,908 |
Schedule of Tax Payables and Receivables | Current tax payables and receivables at December 31, 2020 and 2019 are as follows: Millions of euros Balance at 12/31/2020 Balance at 12/31/2019 Tax payables Tax withholdings 105 161 Indirect taxes 380 817 Social security 118 137 Current income taxes payable 813 1,073 Other 316 372 Total 1,732 2,560 Millions of euros Balance at 12/31/2020 Balance at 12/31/2019 Tax receivables Indirect taxes 484 941 Current income taxes receivable 334 507 Other 84 113 Total 902 1,561 |
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 2020, 2019 and 2018 is as follows: Millions of euros 2020 2019 2018 Accounting profit before tax 2,583 2,718 5,571 Tax expense at prevailing statutory rate 532 722 1,544 Permanent differences 289 (223) 133 Changes in deferred tax charge due to changes in tax rates 14 8 6 (Capitalization)/reversal of tax deduction and tax relief (103) (44) 371 (Capitalization)/reversal of loss carryforwards (88) 118 (1,067) Increase/(decrease) in tax expense arising from temporary differences (8) 484 569 Other concepts (10) (11) 65 Corporate income tax 626 1,054 1,621 Breakdown of current/deferred tax expense Current tax expense 462 1,108 1,122 Deferred tax expense/(benefit) 164 (54) 499 Total Corporate income tax 626 1,054 1,621 |
Revenue and Expenses (Tables)
Revenue and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |
Schedule of Breakdown of Revenues | The breakdown of Revenues for the years 2020, 2019 and 2018 is as follows: Millions of euros 2020 2019 2018 Rendering of services 37,394 42,264 43,085 Sales 5,682 6,158 5,608 Total 43,076 48,422 48,693 |
Schedule of Breakdown of Other Income | The breakdown of “Other income” is as follows: Millions of euros 2020 2019 2018 Own work capitalized 873 890 815 Gain on disposal of companies 67 677 21 Gain on disposal of other assets 276 612 241 Government grants 17 22 22 Other operating income 354 641 523 Total 1,587 2,842 1,622 |
Schedule of Breakdown of Other Expenses | The breakdown of “Other expenses” is as follows: Millions of euros 2020 2019 2018 Leases included in "Other expenses" (1) 89 123 1,071 Other external services 9,617 11,370 11,427 Taxes other than income tax 902 995 365 Change in trade provisions 860 974 785 Losses on disposal of fixed assets and changes in provisions for fixed assets 416 187 35 Goodwill impairment (Note 7) 519 206 350 Other operating expenses 468 589 366 Total 12,871 14,444 14,399 |
Schedule of Estimated Payments on Operating Leases, Purchases, and Other Contractual Commitments | The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows: Millions of euros Purchases and other contractual commitments Less than 1 year 3,939 1 to 3 years 4,267 3 to 5 years 1,027 More than 5 years 905 Total 10,138 |
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 2020, 2019 and 2018, together with total headcount at December 31 each year. 2020 2019 2018 Average Year-end Average Year-end Average Year-end Telefónica Spain 22,992 22,978 25,338 23,081 26,892 25,474 Telefónica United Kingdom 6,501 6,318 6,940 6,861 6,732 7,188 Telefónica Germany 7,770 7,701 8,034 7,955 8,366 8,203 Telefónica Brazil 33,938 33,828 33,147 33,905 34,068 33,499 Telefónica Hispam 33,872 33,506 35,928 34,474 38,037 37,490 Telxius Group 509 557 470 494 419 438 Other companies 7,600 7,909 8,168 7,834 8,239 8,507 Total 113,182 112,797 118,025 114,604 122,753 120,799 |
Schedule of Breakdown of Depreciation and Amortization | The breakdown of “Depreciation and amortization” on the consolidated income statement is as follows: Millions of euros 2020 2019 2018 Property, plant and equipment (Note 8) 5,022 5,613 5,751 Intangible assets (Note 6) 2,735 3,248 3,298 Rights of use (Note 9) 1,602 1,721 n.a. Total 9,359 10,582 9,049 |
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 2020 2019 2018 Profit attributable to ordinary equity holders of the parent from continuing operations 1,582 1,142 3,331 Adjustment for the coupon corresponding to undated deeply subordinated securities (335) (379) (540) Tax effect 84 97 138 Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations 1,331 860 2,929 Number of shares (thousands) 2020 2019 (*) 2018 (*) Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share 5,471,160 5,453,145 5,461,067 Telefónica, S.A. share option plans 6,590 4,766 663 Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares) 5,477,750 5,457,911 5,461,730 (*) Revised data. Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows: Figures in euros 2020 2019 2018 Basic earnings per share 0.24 0.16 0.54 Diluted earnings per share 0.24 0.16 0.54 |
Share-Based Payment Plans (Tabl
Share-Based Payment Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-Based Payment Arrangements [Abstract] | |
Schedule of Number and Weighted-Average Exercise Prices of Other Equity Instruments | The second cycle commenced in 2019 and will be finalized on December 31, 2021, with delivery of the respective shares in 2022. The maximum number of shares assigned to this cycle of the plan was 9,471,489 shares and the outstanding at December 31, 2020 8,257,335, with the following breakdown: Second cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 4,735,744.5 4,128,667.5 4.44 FCF Objective 4,735,744.5 4,128,667.5 6.14 In 2020 the third cycle commenced, and it will be finalized on December 31, 2022, with delivery of the respective shares in 2023. The maximum number of shares assigned to this cycle of the plan was 5,346,508 shares and the outstanding shares at December 31, 2020 5,309,098, with the following breakdown: Third cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 2,673,254 2,654,549 1.64 FCF Objective 2,673,254 2,654,549 3.21 The first cycle commenced in 2018 and finalized on December 31, 2020. The maximum number of shares assigned to this cycle of the plan was 787,500, assigned as of January 1, 2018 with a unit fair value of 6.4631 euros per share for FCF objective and 4.516 euros for TSR. As of December 31, 2020 the number of outstanding shares was 691,750. The second cycle commenced in 2019 and will be finalized on December 31, 2021, with delivery of the respective shares in 2022. The maximum number of shares assigned to this cycle of the plan was 812,000 shares and there were 745,000 outstanding shares at December 31, 2020, with the following breakdown: Second cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 406,000 372,500 4.44 FCF Objective 406,000 372,500 6.14 In 2020 the third cycle commenced, and it will be finalized on December 31, 2022, with delivery of the respective shares in 2023. The maximum number of shares assigned to this cycle of the plan was 897,400 shares and the outstanding shares at December 31, 2020 894,000, with the following breakdown: Third cycle No. of shares assigned Outstanding shares at 12/31/2020 Unit fair value (euros) TSR Objective 448,700 447,000 1.64 FCF Objective 448,700 447,000 3.21 |
Cash Flow Detail (Tables)
Cash Flow Detail (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Cash Flow Statement [Abstract] | |
Schedule of Operating Activities | The detail of net cash flow provided by operating activities is the following: Millions of euros 2020 2019 2018 Cash received from operations 51,353 57,699 58,815 Cash paid from operations (36,477) (41,224) (42,891) Cash paid to suppliers (31,080) (35,450) (37,044) Cash paid to employees (4,434) (4,934) (5,072) Payments related to cancellation of commitments (963) (840) (775) Net payments of interest and other financial expenses net of dividends received (1,171) (1,725) (1,636) Net interest and other financial expenses paid (1,193) (1,754) (1,664) Dividends received 22 29 28 Taxes proceeds / (payments) (509) 272 (865) Net cash flow provided by operating activities 13,196 15,022 13,423 |
Schedule of Investing Activities: Investments, Property, Plant and Equipment, and Intangible Assets | The detail of "(Payments on Investments)/proceeds from the sale in property, plant and equipment and intangible assets, net" is the following: Millions of euros 2020 2019 2018 Proceeds from the sale in property, plant and equipment and intangible assets 509 751 192 Payments on investments in property, plant and equipment and intangible assets (7,529) (8,410) (8,777) (Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net (7,020) (7,659) (8,585) |
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" is the following: Millions of euros 2020 2019 2018 Sale of Axonix Ltd and Telefónica Digital Inc. — — 29 Sale of Seguros de Vida y Pensiones Antares, S.A. (Note 2) — 151 — Sale of Telefónica Móviles Guatemala, S.A. (Note 2) — 270 — Sale of Telefonía Celular de Nicaragua, S.A. (Note 2) — 342 — Sale of Telefónica Móviles Panamá, S.A. (Note 2) — 519 — Sale of data center businesses (Note 2) — 515 — Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panamá in Telefónica Centroamérica Inversiones, S.L. 71 (83) — Others 10 9 — Proceeds on disposals of companies, net of cash and cash equivalents disposed 81 1,723 29 Payments on investments in companies, net of cash and cash equivalents acquired (79) (12) (3) |
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 2020 2019 2018 Investments of Seguros de Vida y Pensiones Antares, S.A. — 3 78 Sale of stake in Shortcut I GmbH & Co. KG — — 21 Collateral guarantees on derivatives 2,224 1,793 806 Legal deposits 63 11 — Others 21 28 99 Proceeds on financial investments not included under cash equivalents 2,308 1,835 1,004 Legal deposits — (33) (54) Collateral guarantees on derivatives (3,251) (947) (754) Derivatives of Telefónica, S.A. — (12) — Capital increase in PRISA (Note 12) — (15) — Others (46) (125) (157) Payments on financial investments not included under cash equivalents (3,297) (1,132) (965) |
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 shareholders and minority interests, and operations with other equity holders is the following: Millions of euros 2020 2019 2018 Dividends paid to the shareholders of Telefónica, S.A. (*) (825) (2,056) (2,048) Payments to non-controlling interests of Telefônica Brasil, S.A. (227) (352) (245) Payments to non-controlling interests of Telefónica Deutschland Holding, A.G. (156) (247) (238) Payments to non-controlling interests of Telefónica Centroamérica Inversiones, S.L. (39) — (28) Payments to non-controlling interests of Telxius Telecom, S.A. and Pontel Participaciones, S.L. (44) (86) (231) Others (5) (1) (4) Dividends paid (see Note 17) (1,296) (2,742) (2,794) Share capital increase Pontel and Telxius (see Note 17.i) 323 — — Sale of 16.65% of Pontel Participaciones, S.L. (see Note 5) — — 379 Transactions carried out by Telefónica, S.A. (see Note 17) (217) (86) — Telefónica Centroamérica Inversiones, S.L. — (414) — Others (6) (4) — (Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests (223) (504) 379 Issuance of undated deeply subordinated securities (Note 17) 500 1,800 2,250 Acquisition of undated deeply subordinated securities (Note 17) (385) (935) (1,779) Payment of undated deeply subordinated securities (Note 17) (808) (118) (473) Payment of the coupon related to the issuances of undated deeply subordinated securities issued (see Note 17) (327) (357) (559) Operations with other equity holders (1,020) 390 (561) |
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, lease principal payments and financed operating payments and investments in property, plant and equipment and intangible assets payments is the following: Millions of euros 2020 2019 2018 Issued under the EMTN program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) 3,500 2,500 2,000 Issued under the SHELF program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) — 1,113 1,746 Issuance of O2 Telefónica Deutschland Finanzierungs, GmbH (Appendix III) — — 600 Issuance of Telefónica del Perú, S.A.A. (*) — 457 — Issuance of Colombia Telecomunicaciones S.A, E.S.P. 408 — — Others 103 116 (57) Proceeds on issue of debentures and bonds, and other debts 4,011 4,186 4,289 Structured financing — — 750 Disposal bilateral loans of Telefónica, S.A. (see Note 18) 350 200 585 Syndicated loan of Telxius Telecom, S.A. — — 289 Syndicated bilateral loan of Telxius Telecom, S.A. — 150 — Settlement of nominal value of gross debt hedging derivatives 1,119 153 209 Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, E.S.P. 436 — — Others 2,611 1,199 2,349 Proceeds on loans, borrowings and promissory notes (see Appendix V) 4,516 1,702 3,973 Repayments of debentures and bonds, and other debts (6,728) (3,653) (4,654) Amortization bilateral loans of Telefónica, S.A. — (1,835) (800) Amortization of structured financing of Telefónica Europe B.V. — (1,500) — Settlement of nominal value of amortized debt hedging derivatives (139) (148) (52) Others (2,713) (2,873) (3,188) Repayments of loans, borrowings and promissory notes (see Appendix V) (2,852) (6,356) (4,040) Lease principal payments (Note 20) (1,787) (1,518) — Financed spectrum licenses payments (Note 21) (60) (59) (44) Payments for investments in spectrum use licenses financed without explicit interest (87) (87) — Payments to suppliers with extended payment terms (Note 18) (235) (380) (428) Financed operating payments and investments in property, plant and equipment and intangible assets payments (382) (526) (472) (*) Data converted at the exchange rate at the end of each of the corresponding periods. 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 (Tables)
Other Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Additional information [abstract] | |
Schedule of Auditors' Fees | The detail of these amounts is as follows: 2020 2019 Millions of euros PwC Auditores, S.L. Other PwC Total PwC Auditores, S.L. Other PwC Total Audit services 11.23 10.40 21.63 6.92 10.62 17.54 Audit-related services 0.62 0.61 1.23 0.73 0.45 1.18 Tax services — — — — — — All other services (consulting, advisory, etc.) — — — — — — Total 11.85 11.01 22.86 7.65 11.07 18.72 |
Schedule of Key Management Personnel Compensation | Set forth below are the amounts established in fiscal year 2020 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 TELEFÓNICA, S.A. (Amounts in euros) Directors Salary 1 Fixed remunera-tion 2 Allowances 3 Short-term variable remuneration 4 Remuneration for belonging to the Board Committees 5 Other items 6 Total Mr. José María Álvarez-Pallete López 1,923,100 — — 3,111,960 — 5,966 5,041,026 Mr. Isidro Fainé Casas — 200,000 — — 80,000 — 280,000 Mr. José María Abril Pérez — 200,000 9,000 — 91,200 — 300,200 Mr. José Javier Echenique Landiríbar — 200,000 25,000 — 115,467 — 340,467 Mr. Ángel Vilá Boix 1,600,000 — — 2,157,600 — 19,440 3,777,040 Mr. Juan Ignacio Cirac Sasturain — 120,000 10,000 — 12,133 — 142,133 Mr. Peter Erskine — 120,000 19,000 — 113,600 — 252,600 Ms. Sabina Fluxà Thienemann — 120,000 4,000 — 3,733 — 127,733 Ms. Carmen García de Andrés — 120,000 24,000 — 22,400 — 166,400 Ms. María Luisa García Blanco — 120,000 22,000 — 22,400 — 164,400 Mr. Jordi Gual Solé — 120,000 20,000 — 22,400 — 162,400 Mr. Peter Löscher — 120,000 30,000 — 39,200 — 189,200 Mr. Ignacio Moreno Martínez — 120,000 35,000 — 44,800 — 199,800 Ms. Verónica Pascual Boé — 120,000 9,000 — 11,200 — 140,200 Mr. Francisco Javier de Paz Mancho — 120,000 31,000 — 124,800 — 275,800 Mr. Francisco José Riberas Mera — 120,000 — — — — 120,000 Ms. Claudia Sender Ramírez — 120,000 10,000 — 11,200 — 141,200 1. Salary: Regarding Mr José María Álvarez-Pallete López and Mr Ángel Vilá Boix, the amount includes the non-variable remuneration earned from their executive functions. 2. Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, subject to consolidation over time or not, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings. 3. Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings. 4. Variable short-term remuneration (bonuses): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) within a period of time equal to or less than a year, corresponding to the year 2020 and paid in the year 2021. In reference to the bonus corresponding to 2019, which was paid in 2020, Executive Board Member Mr José María Álvarez-Pallete López received 3,447,734 euros and Executive Board Member Mr Ángel Vilá Boix received 2,390,400 euros. 5. Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Committee and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. 6. Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telefónica, S.A. The following table breaks down the amounts accrued and/or 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 functions or by their membership to the Board of Directors of such companies: OTHER COMPANIES OF THE TELEFÓNICA GROUP (Amounts in euros) Directors Salary 1 Fixed remunera-tion 2 Allowances 3 Short-term variable remuneration 4 Remuneration for belonging to the Board Committees 5 Other items 6 Total Mr. José María Álvarez-Pallete López — — — — — — — Mr. Isidro Fainé Casas — — — — — — — Mr. José María Abril Pérez — — — — — — — Mr. José Javier Echenique Landiríbar — 158,102 — — — — 158,102 Mr. Ángel Vilá Boix — — — — — — — Mr. Juan Ignacio Cirac Sasturain — — — — — — — Mr. Peter Erskine — 30,000 — — — — 30,000 Ms. Sabina Fluxà Thienemann — — — — — — — Ms Carmen García de Andrés — — — — — — — Ms. María Luisa García Blanco — — — — — — — Mr. Jordi Gual Solé — — — — — — — Mr. Peter Löscher — 73,989 — — — — 73,989 Mr. Ignacio Moreno Martínez — — — — — — — Ms. Verónica Pascual Boé — — — — — — — Mr. Francisco Javier de Paz Mancho — 285,553 — — — — 285,553 Mr. Francisco José Riberas Mera — — — — — — — Ms. Claudia Sender Ramírez — — — — — — — 1. Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telefónica Group for his/her executive functions. 2. Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, subject to consolidation over time or not, earned by the member for his/her position on the boards of other companies of the Telefónica Group. 3. Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telefónica Group. 4. Variable short-term remuneration (bonuses): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) within a period of time equal to or less than a year, corresponding to the year 2020 and paid in the year 2021 by other companies of the Telefónica Group. 5. Remuneration for belonging to the Board Committees of other companies of the Telefónica Group: Amount of items other than allowances, which the directors are beneficiaries through their position on the Advisory or Steering Committees of other companies of the Telefónica Group, regardless of the effective attendance of the board member such Committee meetings. 6. Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by other companies of the Telefónica Group. |
Operations Classified as Held_2
Operations Classified as Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Assets And Liabilities Classified As Held For Sale [Abstract] | |
Schedule of Detailed Information on Operations Classified as Held for Sale and Liabilities Associated | The breakdown of non-current assets and disposal groups held for sale and liabilities associated at December 31, 2020 and December 31, 2019 is as follows: 2020 Millions of euros Non-current assets and disposal groups held for sale Liabilities associated with non-current assets and disposal groups held for sale Telefónica United Kingdom 13,053 3,704 Telecommunications towers divisions of Telxius 1,912 866 Telefónica de Costa Rica 420 221 Other assets 28 — Total 15,413 4,791 2019 Millions of euros Non-current assets and disposal groups held for sale Liabilities associated with non-current assets and disposal groups held for sale Telefónica Móviles El Salvador 327 136 Telefónica de Costa Rica 439 244 Other assets 52 — Total 818 380 The breakdown of assets and liabilities of Telefónica de Costa Rica, the telecommunications towers divisions of Telxius and Telefónica United Kingdom, classified as Non-current assets and disposal groups held for sale and associated liabilities in the consolidated statement of financial position at December 31, 2020 is as follows: 2020 Millions of euros T. Costa Rica Telecommunications towers divisions of Telxius T. United Kingdom Non-current assets 355 1,885 10,950 Intangible assets 64 36 1,619 Goodwill — 262 4,594 Property, plant and equipment 101 766 3,668 Rights of use 134 555 666 Investments accounted for by the equity method — — 10 Financial assets and other non-current assets 27 16 392 Deferred tax assets 29 250 1 Current assets 65 27 2,103 Inventories 5 — 141 Receivables and other current assets 50 12 1,876 Tax receivables 2 1 — Other current financial assets — — 80 Cash and cash equivalents 8 14 6 Non-current liabilities 158 631 848 Non-current lease liabilities 88 412 318 Payable and other non-current liabilities — — 226 Deferred tax liabilities 66 7 205 Non-current provisions 4 212 99 Current liabilities 63 235 2,856 Current lease liabilities 16 158 204 Payables and other current liabilities 34 72 1,994 Tax payables 13 5 583 Current provisions — — 75 The breakdown of assets and liabilities of Telefónica de Costa Rica and Telefónica Móviles El Salvador, classified as Non-current assets and disposal groups held for sale and associated liabilities in the consolidated statement of financial position at December 31, 2019 was as follows: 2019 Millions of euros T. Costa Rica T. Móviles El Salvador Non-current assets 352 279 Intangible assets 72 34 Goodwill — 63 Property, plant and equipment 100 124 Rights of use 139 53 Financial assets and other non-current assets 13 3 Deferred tax assets 28 2 Current assets 87 48 Inventories 9 4 Receivables and other current assets 61 31 Tax receivables 4 2 Other current financial assets — 2 Cash and cash equivalents 13 9 Non-current liabilities 166 69 Non-current financial liabilities — 13 Non-current lease liabilities 104 35 Payable and other non-current liabilities — 1 Deferred tax liabilities 58 15 Non-current provisions 4 5 Current liabilities 78 67 Current financial liabilities — 23 Current lease liabilities 19 11 Payables and other current liabilities 47 32 Tax payables 12 1 |
Appendix I_ Scope of Consolid_2
Appendix I: Scope of Consolidation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Consolidations [Abstract] | |
Schedule of Main Companies of the Telefonica Group | The table below lists the main companies comprising the Telefónica Group at December 31, 2020 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 Contenidos, 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 de Contenidos, S.A.U. Telefónica Servicios Integrales de Distribución S.A.U. Spain EUR 2 100 % Telefónica de España, S.A.U. Telefónica de Contenidos, S.A.U. Spain EUR 226 100 % Telefónica, S.A. 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 de Contenidos, S.A.U. TBSC Barcelona Producciones, S.L.U. Spain EUR — 100 % Telefónica Broadcast Services, S.L.U. Telefónica Audiovisual Digital, S.L.U. Spain EUR 46 100 % Telefónica de Contenidos, S.A.U. Compañía Independiente de Televisión, S.L. Spain EUR 1 100 % Telefónica Audiovisual Digital, S.L.U. Telefónica Global Technology, S.A.U. Spain EUR 16 100 % Telefónica de Contenidos, S.A.U. Buendía Producción, S.L. Spain EUR — 50 % Telefónica Audiovisual Digital, S.L.U. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica United Kingdom O2 Holdings Ltd United Kingdom GBP 12 100 % Telefónica O2 Holding Ltd. Telefónica United Kingdom Ltd. United Kingdom GBP 10 100 % O2 Holdings Ltd. Giffgaff Ltd United Kingdom GBP — 100 % Telefónica United Kingdom Ltd. O2 Networks Ltd. United Kingdom GBP — 100 % O2 Holdings Ltd. Cornerstone Telecomunications United Kingdom 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 Service GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG Telefónica Germany Business Sales GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG O2 Telefónica Deutschland Finanzierungs GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG Telefónica Brazil Telefônica Brasil, S.A. Brazil BRL 63,571 73.69 % Telefónica Latinoamérica Holding, S.L.U.(24.18%) Terra Networks Brasil, Ltda. Brazil BRL — 73.69 % Telefônica Brasil, S.A. Telefônica Infraestructura e Segurança Brasil Ltda. Brazil BRL — 73.69 % Terra Networks Brasil, Ltda. Telxius Group Telxius Telecom, S.A. Spain EUR 260 50.01 % Pontel Participaciones, S.L. Telxius Cable América, S.A. Uruguay USD 507 50.01 % Telxius Telecom, S.A. Telxius Cable España, S.L.U. Spain EUR 5 50.01 % Telxius Telecom, S.A. Telxius Cable República Dominicana, S.A.S. Republica Dominicana USD 3 50.01 % Telxius Cable América, S.A. (49.51%) Telxius Cable Argentina, S.A. Argentina USD 78 50.01 % Telxius Cable América, S.A. (49.98%) Telxius Cable Panamá, S.A. Panama USD 17 50.01 % Telxius Cable América, S.A. Telxius Cable Puerto Rico, Inc. Puerto Rico USD 24 50.01 % Telxius Cable América, S.A. Telxius Cable USA, Inc. USA USD 58 50.01 % Telxius Cable América, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telxius Group (Cont.) Telxius Cable Ecuador, S.A. Ecuador USD 5 50.01 % Telxius Cable América, S.A. (50%) Telxius Cable Chile, S.A. Chile USD 37 50.01 % Telxius Cable América, S.A. Telxius Cable Guatemala, S.A. Guatemala USD 24 50.01 % Telxius Cable América, S.A. Telxius Cable Perú, S.A.C. Peru USD 20 50.01 % Telxius Cable América, S.A. Telxius Cable Colombia, S.A. Colombia USD 4 50.01 % Telxius Cable América, S.A. (47.50%) Telxius Cable Brasil Participaçoes, Ltda. Brazil USD 62 50.01 % Telxius Cable América, S.A. Telxius Cable Brasil, Ltda. Brazil USD 74 50.01 % Telxius Cable Brasil Participaçoes, Ltda. Telxius Cable Bolivia, S.A. Bolivia USD 5 50.01 % Telxius Cable América, S.A. (49.01%) Telxius Group - companies held for sale Inmosites, S.A.U. Spain EUR 13 50.01 % Telxius Telecom, S.A. Telxius Torres Latam, S.L.U. Spain EUR 8 50.01 % Telxius Telecom, S.A. Telxius Torres España, S.L.U. Spain EUR 10 50.01 % Telxius Telecom, S.A. Telxius Towers Germany, Gmbh. Germany EUR — 50.01 % Telxius Telecom, S.A. Telxius Torres Perú S.A.C. Peru PEN 104 50.01 % Telxius Torres Latam, S.L.U. Telxius Torres Chile Holding, S.A. Chile EUR 8 50.01 % Telxius Torres Latam, S.L.U. (50%) Telxius Torres Chile, S.A. Chile CLP 29,221 50.01 % Telxius Torres Chile Holding, S.A. Telxius Torres Brasil, Ltda. Brazil BRL 1,352 50.01 % Telxius Torres Latam, S.L.U. Inmosites Brasil Participaçoes Imobiliarias Ltda Brazil BRL 14 50.01 % Telxius Torres Brasil, Ltda. Telxius Torres Argentina, S.A. Argentina ARS 2,097 50.01 % Telxius Torres Latam, S.L.U. (47.51%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Hispam Telefónica Hispanoamérica, S.A.U. Spain EUR — 100 % Telefónica, S.A. Telefónica Venezolana, C.A. Venezuela VESM 12,576 100 % Telefónica Hispanoamérica, S.A.U. (97.44%) Colombia Telecomunicaciones, S.A. ESP Colombia COP 3,410 67.50 % Telefónica Hispanoamérica, S.A.U. (67.50%) Operaciones Tecnológicas y Comerciales S.A.S Colombia COP 2,330 67.50 % Colombia Telecomunicaciones, S.A. ESP (67.50%) Telefónica Móviles México, S.A. de C.V. Mexico MXN 100,264 100 % Telefónica, S.A. Terra Networks México, S.A. de C.V. Mexico MXN 47 100 % Terra Networks Mexico Holding, S.A. de C.V. Fisatel Mexico, S.A. de C.V. Mexico MXN 3,505 100 % Telefónica Hispanoamérica, S.A.U. (99.99%) Otecel, S.A. Ecuador USD 183 100 % Telefónica Hispanoamérica, S.A.U. Telefónica de Argentina, S.A. Argentina ARS 64,520 100 % Telefónica Móviles Argentina, S.A. (87.8%) Telefónica Móviles Argentina, S.A. Argentina ARS 9,251 100 % Telefónica, S.A. (73.20%) Telefónica Móviles Chile, S.A. Chile CLP 1,364,872 100 % Inversiones Telefónica Internacional Holding S.A. (98.96%) Telefónica Chile, S.A. Chile CLP 569,773 99.14 % Telefónica Móviles Chile, S.A. Telefónica Chile Holdings, S.L. Chile CLP — 100 % Telefónica Hispanoamérica, S.A.U. Telefónica del Perú, S.A.A. Peru PEN 2,954 98.94 % Telefónica Hispanoamérica, S.A.U. Media Networks Latin America, S.A.C Peru USD 91 100 % Telefónica Latinoamérica Holding, S.L.U. Telefónica Móviles del Uruguay, S.A. Uruguay UYU 1,107 100 % Telefónica Hispanoamérica, S.A.U. Other companies Telefónica Infra, S.L. Spain EUR — 100 % Telefónica , S.A. Telefónica Infra Germany GmbH Germany EUR — 100 % Telefónica Infra, S.L. Telefónica O2 Holdings Ltd. United Kingdom GBP 9 100 % Telefónica, S.A. (99.99%) MmO2 plc United Kingdom GBP — 100 % Telefónica O2 Holding Ltd. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies (Cont.) O2 International Holdings Ltd. United Kingdom GBP — 100 % O2 (Europe) Ltd. O2 (Netherlands ) Holdings BV. Netherlands EUR — 100 % O2 International Holdings Ltd. Telefónica Germany Holdings Ltd. United Kingdom EUR — 100 % O2 (Europe) Ltd. O2 (Europe) Ltd. United Kingdom EUR 1,239 100 % Telefónica, S.A. Telefónica International Holding, B.V Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L.U. Telefónica Latinoamérica Holding, S.L.U. Spain EUR 237 100 % Telefónica, S.A. Sao Paulo Telecomunicaçoes Participaçoes Ltda Brazil BRL 14,804 100 % Telefónica Latinoamérica Holding, S.L.U. (60.6%) Telefónica Global Solutions, S.L.U. Spain EUR 1 100 % Telefónica, S.A Telefónica USA, Inc. USA USD 202 100 % Telefónica Global Solutions, S.L.U. Telefónica International Wholesale Services México, S.A. Mexico MXN 31 100 % Telefónica Global Solutions, S.L.U. Telefónica Digital España, S.L. Spain EUR 24 100 % Telefónica, S.A Telefónica Digital Ltd. United Kingdom GBP 66 100 % Telefónica Digital España, S.L. Telefonica Open Innovation S.L. Spain EUR 2 100 % Telefónica Digital España, S.L. Wayra Chile Tecnología e Innovación Limitada Chile CLP 29,899 100 % Telefonica Open Innovation S.L. Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda. Brazil BRL 49 100 % Telefonica Open Innovation S.L. WY Telecom, S.A. de C.V. Mexico MXN 173 100 % Telefonica Open Innovation S.L. Wayra Argentina, S.A. Argentina ARS 382 100 % Telefonica Open Innovation S.L. (95%) Wayra Colombia, S.A.S. Colombia COP 2,304 100 % Telefonica Open Innovation S.L. Proyecto Wayra, C.A. Venezuela VES 75,422 100 % Telefónica Venezolana, C.A. Wayra Perú Aceleradora de Proyectos, S.A.C. Peru PEN 28 100 % Telefonica Open Innovation S.L. Wayra UK Ltd. United Kingdom GBP — 100 % Telefonica Open Innovation S.L. Terra Networks Perú, S.A. Peru PEN 10 100 % Telefónica Latinoamérica Holding, S.L.U. Terra Networks Argentina, S.A. Argentina ARS 14 100 % Telefónica Latinoamérica Holding, S.L.U. (99.99%) 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 Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies (Cont.) 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 Telefonica Iot & Big Data Tech S.A. Spain EUR 1 100 % Telefónica Tech S.L. 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 8 100 % Telefónica, 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. Telefónica Luxembourg Holding, S.à.r.L. Luxembourg EUR 3 100 % Telefónica, S.A. Casiopea Reaseguradora, S.A. Luxembourg EUR — 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 24 100 % Telefónica Luxembourg Holding, S.à.r.L. 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%) 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. Aliança Atlântica Holding B.V. Netherlands EUR 150 100 % Telefónica, S.A. (50%) Telefónica Serviços Empresariais do Brasil, Ltda. Brazil BRL 48 99.99 % Telefónica Servicios Globales, S.L.U. Telefónica Gestión Integral de Edificios y Servicios S.L. Spain EUR 29 100 % 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 United Kingdom GBP — 100 % Telefónica, S.A. Telefónica Innovación Alpha, S.L. Spain EUR 1 100 % Telefónica, S.A. Telefónica Servicios Globales, S.L.U. Spain EUR 1 100 % Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies (Cont.) Telefónica Holding Atticus, B.V. Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L.U. Telefónica Soluciones de Criptografía, S.A. Spain EUR — 100 % Telefónica, S.A. Telefónica Centroamérica Inversiones ,S.L. Spain EUR 1 60 % Telefónica, S.A. Telefónica Tech S.L. Spain EUR 5 100 % Telefónica, S.A. Telefónica Cybersecurity & Cloud Tech SL. Spain EUR 8 100 % Telefónica, S.A. Telefónica Cybersecurity & Cloud Tech Chile SpA. Chile CLP 10,001 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefónica Tech Inc. USA USD — 100 % Telefónica Cybersecurity & Cloud Tech SL. Cyberrange S.L. Spain EUR — 100 % Telefónica Cybersecurity & Cloud Tech SL. iHackLabs Ltd. United Kingdom GBP — 100 % Cyberrange S.L. Ace & Niu Consulting S.L. Spain EUR 48 100 % Telefónica Cybersecurity & Cloud Tech SL. Audertis Audit Services S.L. Spain EUR — 100 % Telefónica Cybersecurity & Cloud Tech SL. Govertis Advisory Services S.L. Spain EUR — 100 % Telefónica Cybersecurity & Cloud Tech SL. Govertis Advisory Services Perú S.A.C. Peru PEN — 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefonica Cybersecurity Tech Colombia S.A.S. Colombia COP 406 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefónica Cybersecurity Tech UK Limited United Kingdom GBP — 100 % Telefónica UK Ltd. Telefonica Cybersecurity Tech Mexico, S.A de C.V. Mexico MXN — 100 % Telefónica Cybersecurity & Cloud Tech SL. (99%) Telefônica Cibersegurança e Tecnología do Brasil Ltda Brazil BRL 26 100 % Telefónica Cybersecurity & Cloud Tech SL. Telefónica Cybersecurity & Cloud Tech Perú S.A.C Perú PEN 24 100 % Telefónica Cybersecurity & Cloud Tech SL. (99.99%) Telefonica Cybersecurity Tech Ecuador Tctech S.A. Ecuador USD — 100 % Otecel, S.A. (99%) Telefónica Cybersecurity Tech Argentina S.A. Argentina ARS — 100 % Telefónica de Argentina, S.A. (95%) Telefónica Móviles El Salvador, S.A. de C.V. El Salvador USD 42 59.58 % Telefónica Centroamérica Inversiones S.L. (59.46%) Pontel Participaciones, S.L. Spain EUR — 83.35 % Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other companies held for sale Telefónica de Costa Rica TC, S.A. Costa Rica CRC 182,522 100 % 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%) Telefónica Factoring Chile, SpA. Chile CLP 547 50 % Telefónica Factoring España, S.A. (50%) Mobile Financial Services Holding SPRL Belgium USD 197 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. United Kingdom GBP — 50 % O2 Communication Ltd. The Smart Steps Data Technology Company China CNY — 37.5 % Telefónica Digital España, S.L. Internet para todos S.A.C Peru PEN — 54.67 % Telefónica del Perú, S.A.A. Prosegur Alarmas España S.L. Spain EUR — 50 % Telefónica de Contenidos, S.A.U Buendía Estudios, S.L. Spain EUR — 50 % Telefónica Audiovisual Digital, S.L.U. UGG TopCo/HoldCo General Partner GmbH. Germany EUR — 46.92 % Telefónica Infra Germany GmbH. (40%) UGG TopCo GmbH & Co KG Germany EUR 10 46.92 % Telefónica Infra Germany GmbH. (40%) UGG HoldCo GmbH& Co KG Germany EUR 4 46.92 % UGG TopCo GmbH & Co KG UGG General Partner GmbH Germany EUR — 46.92 % UGG HoldCo GmbH& Co KG Unsere Grüne Glasfaser GmbH & Co KG Germany EUR 4 46.92 % UGG HoldCo GmbH& Co KG Main changes in the scope of consolidation for the year 2020 Acquisition of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Other companies Telefónica Infra Germany GmbH Germany 10/31/2020 100 % Cyberrange S.L. Spain 08/31/2020 100 % iHackLabs Ltd. United Kingdom 08/31/2020 100 % Ace & Niu Consulting S.L. Spain 08/31/2020 100 % Audertis Audit Services S.L. Spain 08/31/2020 100 % Govertis Advisory Services S.L. Spain 08/31/2020 100 % Govertis Advisory Services Perú S.A.C. Peru 08/31/2020 100 % Companies accounted for using the equity method Prosegur Alarmas España S.L. Spain 02/29/2020 50 % New joint ventures Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition UGG TopCo/HoldCo General Partner GmbH. Germany 10/31/2020 46.92 % UGG TopCo GmbH & Co KG Germany 10/31/2020 46.92 % UGG HoldCo GmbH& Co KG Germany 10/31/2020 46.92 % UGG General Partner GmbH Germany 10/31/2020 46.92 % Unsere Grüne Glasfaser GmbH & Co KG Germany 10/31/2020 46.92 % Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Spain TBSC Barcelona Producciones, S.L.U. Spain 03/31/2020 100 % Buendía Producción, S.L. Spain 06/30/2020 50 % Telefónica Germany Telefónica Germany Mobilfunk Standortgesellschaft mbH. Germany 01/31/2020 100 % Other companies Telefónica Cybersecurity & Cloud Tech Chile SpA. Chile 03/31/2020 100 % Telefónica Cybersecurity Tech UK Limited United Kingdom 03/31/2020 100 % Telefónica Cybersecurity & Cloud Tech Perú S.A.C Peru 03/31/2020 100 % Telefónica Cybersecurity & Cloud Tech SL. Spain 06/30/2020 100 % Telefonica Cybersecurity Tech Mexico, S.A de C.V. Mexico 05/31/2020 100 % Telefonica Cybersecurity Tech Ecuador Tctech S.A. Ecuador 08/31/2020 100 % Telefónica Cybersecurity Tech Argentina S.A. Argentina 12/31/2020 100 % Telefónica Tech Inc. USA 09/30/2020 100 % Telefónica Infra, S.L. Spain 02/29/2020 100 % Telxius Group Inmosites Brasil Participaçoes Imobiliarias Ltda Brazil 09/30/2020 50.01 % Companies accounted for using the equity method Buendía Estudios, S.L. Spain 06/30/2020 50 % Merged companies Companies/Segment/Subsidiaries Country Date Surviving company Telefónica Spain DTS Distribuidora de Televisión Digital, S.A. Spain 06/30/2020 Telefónica de España, S.A.U. Telefónica Germany Minodes GmbH Germany 12/31/2020 Telefónica Germany GmbH & Co. OHG Telxius Group Telxius Towers Erste GmbH. Germany 09/30/2020 Telxius Towers Germany GmbH. Telefónica Hispam Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Colombia 05/31/2020 Colombia Telecomunicaciones, S.A. ESP Metropolitana de Telecomunicaciones S.A E.S.P Colombia 05/31/2020 Colombia Telecomunicaciones, S.A. ESP Other companies Telefónica Innovation Ventures, S.LU. Spain 11/30/2020 Telefonica Open Innovation S.L. Main changes in the scope of consolidation for the year 2019 Acquisition of companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Other companies Telefónica Soluciones de Criptografía, S.A. Spain 02/28/2019 100 % Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Participation Telxius Group Inmosites, S.A.U. Spain 12/31/2019 50.01 % Sold companies Companies/Segment/Subsidiaries Country Date of deconsolidated % Sold Other companies Telefónica Móviles Guatemala, S.A. Guatemala 01/31/2019 60 % Telefonía Celular de Nicaragua, S.A. Nicaragua 05/31/2019 60 % Telefónica Móviles Panamá, S.A. Panama 08/31/2019 60 % Seguros de Vida y Pensiones Antares, S.A. Spain 02/28/2019 100 % Telefónica Gestión Logística, S.A.C Peru 04/30/2019 100 % |
Appendix II_ Board and Senior_2
Appendix II: Board and Senior Management Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Compensation [Abstract] | |
Schedule of Key Management Personnel Compensation | Set forth below are the amounts established in fiscal year 2020 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 TELEFÓNICA, S.A. (Amounts in euros) Directors Salary 1 Fixed remunera-tion 2 Allowances 3 Short-term variable remuneration 4 Remuneration for belonging to the Board Committees 5 Other items 6 Total Mr. José María Álvarez-Pallete López 1,923,100 — — 3,111,960 — 5,966 5,041,026 Mr. Isidro Fainé Casas — 200,000 — — 80,000 — 280,000 Mr. José María Abril Pérez — 200,000 9,000 — 91,200 — 300,200 Mr. José Javier Echenique Landiríbar — 200,000 25,000 — 115,467 — 340,467 Mr. Ángel Vilá Boix 1,600,000 — — 2,157,600 — 19,440 3,777,040 Mr. Juan Ignacio Cirac Sasturain — 120,000 10,000 — 12,133 — 142,133 Mr. Peter Erskine — 120,000 19,000 — 113,600 — 252,600 Ms. Sabina Fluxà Thienemann — 120,000 4,000 — 3,733 — 127,733 Ms. Carmen García de Andrés — 120,000 24,000 — 22,400 — 166,400 Ms. María Luisa García Blanco — 120,000 22,000 — 22,400 — 164,400 Mr. Jordi Gual Solé — 120,000 20,000 — 22,400 — 162,400 Mr. Peter Löscher — 120,000 30,000 — 39,200 — 189,200 Mr. Ignacio Moreno Martínez — 120,000 35,000 — 44,800 — 199,800 Ms. Verónica Pascual Boé — 120,000 9,000 — 11,200 — 140,200 Mr. Francisco Javier de Paz Mancho — 120,000 31,000 — 124,800 — 275,800 Mr. Francisco José Riberas Mera — 120,000 — — — — 120,000 Ms. Claudia Sender Ramírez — 120,000 10,000 — 11,200 — 141,200 1. Salary: Regarding Mr José María Álvarez-Pallete López and Mr Ángel Vilá Boix, the amount includes the non-variable remuneration earned from their executive functions. 2. Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, subject to consolidation over time or not, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings. 3. Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings. 4. Variable short-term remuneration (bonuses): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) within a period of time equal to or less than a year, corresponding to the year 2020 and paid in the year 2021. In reference to the bonus corresponding to 2019, which was paid in 2020, Executive Board Member Mr José María Álvarez-Pallete López received 3,447,734 euros and Executive Board Member Mr Ángel Vilá Boix received 2,390,400 euros. 5. Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Committee and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. 6. Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telefónica, S.A. The following table breaks down the amounts accrued and/or 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 functions or by their membership to the Board of Directors of such companies: OTHER COMPANIES OF THE TELEFÓNICA GROUP (Amounts in euros) Directors Salary 1 Fixed remunera-tion 2 Allowances 3 Short-term variable remuneration 4 Remuneration for belonging to the Board Committees 5 Other items 6 Total Mr. José María Álvarez-Pallete López — — — — — — — Mr. Isidro Fainé Casas — — — — — — — Mr. José María Abril Pérez — — — — — — — Mr. José Javier Echenique Landiríbar — 158,102 — — — — 158,102 Mr. Ángel Vilá Boix — — — — — — — Mr. Juan Ignacio Cirac Sasturain — — — — — — — Mr. Peter Erskine — 30,000 — — — — 30,000 Ms. Sabina Fluxà Thienemann — — — — — — — Ms Carmen García de Andrés — — — — — — — Ms. María Luisa García Blanco — — — — — — — Mr. Jordi Gual Solé — — — — — — — Mr. Peter Löscher — 73,989 — — — — 73,989 Mr. Ignacio Moreno Martínez — — — — — — — Ms. Verónica Pascual Boé — — — — — — — Mr. Francisco Javier de Paz Mancho — 285,553 — — — — 285,553 Mr. Francisco José Riberas Mera — — — — — — — Ms. Claudia Sender Ramírez — — — — — — — 1. Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telefónica Group for his/her executive functions. 2. Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, subject to consolidation over time or not, earned by the member for his/her position on the boards of other companies of the Telefónica Group. 3. Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telefónica Group. 4. Variable short-term remuneration (bonuses): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) within a period of time equal to or less than a year, corresponding to the year 2020 and paid in the year 2021 by other companies of the Telefónica Group. 5. Remuneration for belonging to the Board Committees of other companies of the Telefónica Group: Amount of items other than allowances, which the directors are beneficiaries through their position on the Advisory or Steering Committees of other companies of the Telefónica Group, regardless of the effective attendance of the board member such Committee meetings. 6. Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid 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 2020 Mr. José María Álvarez-Pallete López 673,085 Mr. Ángel Vilá Boix 560,000 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 Contribution to Pension Plans Contribution to Benefit Plan 1 Contributions to Unit link-type Insurance/Pension Plan Surplus 2 Mr. José María Álvarez-Pallete López 6,060 540,968 126,057 Mr. Ángel Vilá Boix 5,377 487,840 66,783 1. Contributions to the Executive Social Welfare Plan established in 2006, financed exclusively by the Company, to complement the current Pension Plan, which involves defined contributions equivalent to a certain percentage of the fixed remuneration of the Director, depending on the professional levels in the organization of the Telefónica Group. 2. Contributions to Unit link-type Insurance/Pension Plan Surplus: 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. |
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 19,978 Mr. Ángel Vilá Boix 21,593 |
Schedule of PSP of Key Management Personnel Compensation | PSP - Second Cycle / 2019-2022 Directors Maximum number of shares (*) Mr. José María Álvarez-Pallete López 468,000 Mr. Ángel Vilá Boix 347,000 (*) Maximum possible number of shares to be received in case of maximum completion of FCF and TSR target. PSP - Third Cycle / 2020-2023 (shares allocated in July 2020) Directors Maximum number of shares (*) Mr. José María Álvarez-Pallete López 267,000 Mr. Ángel Vilá Boix 198,000 |
Appendix III_ Debentures and _2
Appendix III: Debentures and Bonds (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Appendix III: Debentures and Bonds [Abstract] | |
Schedule of Maturity of Debentures and Bonds | The breakdown of financial liabilities at December 31, 2020 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2021 2022 2023 2024 2025 Subsequent years Non-current total Total Debentures and bonds 4,832 3,683 2,301 1,138 3,075 23,720 33,917 38,749 Promissory notes & commercial paper 1,551 — 140 263 319 — 722 2,273 Total Issues 6,383 3,683 2,441 1,401 3,394 23,720 34,639 41,022 Loans and other payables 1,045 216 755 436 967 1,116 3,490 4,535 Derivative instruments (Note 19) 695 344 136 155 74 3,459 4,168 4,863 Total 8,123 4,243 3,332 1,992 4,435 28,295 42,297 50,420 The detail and key features of outstanding debentures and bonds at December 31, 2020 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 999 999 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,499 1,499 EMTN O2 GBP GBP 5.375 % — — — — — 557 557 TELEF. EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,630 1,630 TELEF. EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0,83% 55 — — — — — 55 TELEF. EMISIONES MAY 2014 EUR 2.242 % — 1,015 — — — — 1,015 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — 724 — — — — 724 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 445 445 TELEF. EMISIONES FEBRUARY 2011 USD 5.462 % 1,223 — — — — — 1,223 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — 139 — — — — 139 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — 1,500 — — — 1,500 TELEF. EMISIONES MARCH 2013 EUR 3.961 % 872 — — — — — 872 TELEF EMISIONES APRIL 2013 USD 4.570 % — — 611 — — — 611 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0,83% — 67 — — — — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % 759 — — — — — 759 TELEF EMISIONES APRIL 2016 EUR 0.750 % — 1,110 — — — — 1,110 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — 1,250 — 1,250 Total Telefónica and its instrumental companies (cont.) Maturity (nominal) Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,223 1,223 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,630 1,630 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 163 163 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 408 408 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2018 EUR 1.447 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2018 USD 4.895 % — — — — — 1,019 1,019 TELEF. EMISIONES MARCH 2018 USD 4.665 % — — — — — 611 611 TELEF. EMISIONES SEPTEMBER 2018 EUR 1.495 % — — — — 1,000 — 1,000 TELEF. EMISIONES FEBRUARY 2019 GREEN B. EUR 1.069 % — — — 1,000 — — 1,000 TELEF. EMISIONES MARCH 2019 EUR 1.788 % — — — — — 1,000 1,000 TELEF. EMISIONES MARCH 2019 USD 5.520 % — — — — — 1,019 1,019 TELEF. EMISIONES JULY 2019 EUR 1.957 % — — — — — 500 500 TELEF. EMISIONES MAY 2020 EUR 1.201 % — — — — — 1,250 1,250 TELEF. EMISIONES FEBRUARY 2020 EUR 0.664 % — — — — — 1,000 1,000 TELEF. EMISIONES MAY 2020 EUR 1.807 % — — — — — 750 750 TELEF. EMISIONES JULY 2020 EUR 1.864 % — — — — — 500 500 Telefónica Emisiones, S.A.U. 2,909 3,055 2,111 1,000 2,250 19,705 31,030 Exchangeable Bond MARCH 2016 (*) EUR — 600 — — — — — 600 Telefónica Participaciones — 600 — — — — — 600 Total Telefónica, S.A. and its instrumental companies 3,509 3,055 2,111 1,000 2,250 21,204 33,129 (*) 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 2021 2022 2023 2024 2025 Subsequent years Total Bond T CLP 4.900 % 22 — 22 — — — 44 144A Bond USD 3.875 % — 408 — — — — 408 Telefónica Chile, S.A. 22 408 22 — — — 452 Bond F UF 3.600 % — — 100 — — — 100 Bond O CLP 3.500 % — — — — 80 — 80 Bond K CLP 4.900 % 108 — — — — — 108 Telefónica Móviles Chile, S.A. 108 — 100 — 80 — 288 Foreign operators (cont.) Maturity Debentures and bonds Currency % Interest rate 2021 2022 2023 2024 2025 Subsequent years Total Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3,625% — — — — — 20 20 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2,875% — — — — — 16 16 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3,125% — — — — — 15 15 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3,1875% — — — — — 6 6 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3,500% 7 — — — — — 7 Bond T. Peru 6th Program (17th Serie A) N. SOL VAC + 3,09375% — — — — — 14 14 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — 59 — — — 59 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.188 % — — — 27 — — 27 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — 32 — — — — 32 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.344 % — 23 — — — — 23 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.469 % — — — 30 — — 30 Bond T. Peru 6th Program (16th Serie A) N. SOL 5.500 % — — — — 24 — 24 Bond T. Peru 6th Program (12th Serie B) N. SOL 4.188 % 16 — — — — — 16 Bond T. Peru 1st Private Program (1st Serie A) N. SOL 7.281 % — — — — — 18 18 Bond T. Peru 1st Program International Issue (1sr Serie A) N. SOL 7.375 % — — — — 128 255 383 Telefónica del Perú, S.A. 23 55 59 57 152 344 690 Nonconvertible bonds BRL 1,0825 XCDI 157 157 — — — — 314 Nonconvertible bonds (Telemig) I BRL IPCA + 0,5% — — — — — — — Nonconvertible bonds (Telemig) II BRL IPCA + 0,5% 1 — — — — — 1 Nonconvertible bonds (Telemig) III BRL IPCA + 0,5% 1 — — — — — 1 Telefônica Brasil, S.A. 159 157 — — — — 316 BOND R144-A USD 4.950 % — — — — — 408 408 Bond A5 COP 6.650 % — — — 83 — — 83 Bond C10 COP IPC + 3,39% — — — — — 36 36 Colombia Telecomunicaciones, S.A, ESP — — — 83 — 444 527 Bond EUR 2.375 % 500 — — — — — 500 Bond EUR 1.750 % — — — — 600 — 600 O2 Telefónica Deutschland Finanzierungs, GmbH 500 — — — 600 — 1,100 Total Outstanding Debentures and Bonds Foreign operators 812 620 181 140 832 788 3,373 Total Outstanding Debentures and Bonds 4,321 3,675 2,292 1,140 3,082 21,992 36,502 |
Schedule of Detailed Information about Debt | Interest-bearing debt arranged or repaid in 2020 mainly includes the following: Description Limit 12/31/2020 (million euros) Currency Outstanding balance 12/31/2020 (million euros) Arrangement date Maturity date Drawndown 2020 (million euros) Repayment 2020 (million euros) Telefónica, S.A. Bilateral Credit (1) 135 EUR — 05/14/2019 05/14/2024 — — Bilateral loan — EUR 150 11/08/2019 03/12/2030 150 — Bilateral loan — EUR 200 12/04/2019 05/06/2027 200 — Bilateral loan (2) 200 EUR — 12/18/2020 06/18/2024 — — Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 02/25/2020 03/24/2025 175 — Syndicated loan (3) — USD 204 03/18/2020 03/18/2025 261 (61) Telefónica Germany GmbH & Co. OHG EIB Financing (Tranche 2) 150 EUR — 01/14/2020 07/14/2029 — — T. Móviles Chile, S.A. Bilateral loan (4) — USD 114 04/17/2020 09/29/2023 114 — T. UK Limited Syndicated loan (5) — GBP — 05/07/2020 09/29/2020 — — (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 million to USD 250 million. (4) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (5) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six The main debentures and bonds issued by the Group in 2020 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 02/03/2020 02/03/2030 1,000 1,000 EUR 0.664 % EMTN Bond 05/21/2020 08/21/2027 1,250 1,250 EUR 1.201 % EMTN Bond 05/21/2020 05/21/2032 750 750 EUR 1.807 % EMTN Bond 07/13/2020 07/13/2040 500 500 EUR 1.864 % Colombia Telecomunicaciones S.A E.S.P. Bond 07/17/2020 07/17/2030 500 408 USD 4.950 % The main financing transactions at December 31, 2020 and 2019 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2020 12/31/2019 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 18 USD 15 53 05/03/2011 07/30/2021 Structured Financing (*) 199 USD 162 282 02/22/2013 01/31/2023 Structured Financing (*) 187 USD 152 243 08/01/2013 10/31/2023 Structured Financing (*) 414 USD 338 448 12/11/2015 03/11/2026 Structured Financing (*) 281 EUR 281 341 12/11/2015 03/11/2026 Credit 100 GBP 111 117 05/23/2013 03/01/2023 Bilateral credit (1) 135 EUR — — 05/14/2019 05/14/2024 Bilateral loan — EUR 200 200 07/11/2019 08/14/2026 Bilateral loan — EUR 150 — 11/08/2019 03/12/2030 Bilateral loan — EUR 200 — 12/04/2019 05/06/2027 Syndicated 5,500 EUR — — 03/15/2018 03/15/2025 Bilateral loan (2) 200 EUR — — 12/18/2020 06/18/2024 Telefónica Germany GmbH & Co. OHG EIB Financing — EUR 333 408 06/13/2016 06/13/2025 Syndicated (3) 750 EUR — — 12/17/2019 12/17/2024 EIB Financing (Tranche 1) 300 EUR — — 12/18/2019 06/18/2029 EIB Financing (Tranche 2) 150 EUR — — 01/14/2020 07/14/2029 Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 — 02/25/2020 03/24/2025 Syndicated (4) — USD 204 — 03/18/2020 03/18/2025 Telxius Telecom, S.A. Syndicated 103 EUR 197 300 12/01/2017 12/01/2024 Bilateral loan — EUR 150 150 11/29/2019 11/29/2021 Telefónica Móviles Chile, S.A. Bilateral loan (5) — USD 114 — 04/17/2020 09/29/2023 T. UK Limited Syndicated (6) — GBP — — 05/07/2020 09/29/2020 (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) The financing matures in 2024, with two annual extension options at the request of Telefónica Germany GmbH & Co. OHG, for a maximum maturity in 2026. (4) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 millions to USD 250 millions. (5) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (6) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six-months extension options at T. UK Limited request with a maturity up to 2022. |
Appendix IV_ Financial Instru_2
Appendix IV: Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 is as follows: Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Euro (9,466) 3,483 3,140 2,163 3,705 23,361 26,386 19,088 7,089 26,177 Floating rate 6,490 870 2,048 794 565 4,247 15,014 518 14,794 15,312 Spread (0.09 %) (0.04 %) 0.12 % 0.20 % 0.15 % (0.03 %) (0.02 %) — — — Fixed rate (15,956) 2,613 1,092 1,369 3,140 19,114 11,372 18,570 (7,705) 10,865 Interest rate (0.33 %) 1.34 % 2.82 % 1.82 % 1.71 % 1.60 % 4.43 % — — — Rate cap — — — — — — — — — — Other european currencies Instruments in CZK (65) — — — — — (65) — (65) (65) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (65) — — — — — (65) — (65) (65) Interest rate (0.25 %) — — — — — (0.25 %) — — — Rate cap — — — — — — — — — — Instruments in GBP 6,874 143 56 — — 557 7,630 1,590 6,740 8,330 Floating rate (1) 334 — — — — 333 (1) 335 334 Spread — — — — — — — — — — Fixed rate 6,875 (247) — — — 557 7,185 1,480 6,405 7,885 Interest rate (0.18 %) (1.97 %) — — — 5.38 % 0.31 % — — — Rate cap — 56 56 — — — 112 111 — 111 Instruments in CHF — — — — — — — 151 (150) 1 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 151 (150) 1 Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — America Instruments in USD (649) (16) (1) 122 (29) 409 (164) 18,790 (18,911) (121) Floating rate (1,622) 12 — 122 (29) 408 (1,109) 814 (2,324) (1,510) Spread (0.05 %) 3.50 % — 0.67 % (23.41 %) — (0.79 %) — — — Fixed rate 973 (28) (1) — — 1 945 17,976 (16,587) 1,389 Interest rate 2.47 % (34.45 %) (2,670.83 %) — — — 5.37 % — — — Rate cap — — — — — — — — — — Instruments in UYU 5 — — — — — 5 (4) 9 5 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 5 — — — — — 5 (4) 9 5 Interest rate 11.18 % — — — — — 11.18 % — — — Rate cap — — — — — — — — — — Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Instruments in ARS (122) 7 — — — — (115) (114) — (114) Floating rate — (1) — — — — (1) (1) — (1) Spread — — — — — — — — — — Fixed rate (122) 8 — — — — (114) (113) — (113) Interest rate 23.94 % 49.43 % — — — — 22.21 % — — — Rate cap — — — — — — — — — — Instruments in BRL 1,885 229 — — 45 13 2,172 (496) 2,675 2,179 Floating rate (813) 132 — — — 14 (667) (692) 32 (660) Spread — — — — — — — — — — Fixed rate 2,698 97 — — 45 (1) 2,839 196 2,643 2,839 Interest rate 1.48 % 2.59 % — — — 1.86 % 1.49 % — — — Rate cap — — — — — — — — — — Instruments in CLP 269 323 294 34 80 (3) 997 (194) 1,208 1,014 Floating rate — 261 3 — — — 264 (3) 268 265 Spread — (0.85 %) 57.81 % — — — (0.24 %) — — — Fixed rate 269 62 291 34 80 (3) 733 (191) 940 749 Interest rate 4.09 % 0.20 % 2.18 % 1.90 % 3.20 % (0.01 %) 2.82 % — — — Rate cap — — — — — — — — — — Instruments in UFC — — — — — — — 100 (112) (12) Floating rate — — — — — — — 100 (112) (12) Spread — — — — — — — — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in PEN 24 80 59 57 151 273 644 441 208 649 Floating rate — 7 — — — — 7 7 — 7 Spread — — — — — — — — — — Fixed rate 24 73 59 57 151 273 637 434 208 642 Interest rate 13.80 % 4.26 % 6.66 % 5.81 % 7.08 % 7.37 % 6.98 % — — — Rate cap — — — — — — — — — — Instruments in VAC 7 — — — — 71 78 79 — 79 Floating rate 7 — — — — 71 78 79 — 79 Spread 3.50 % — — — — 3.21 % 3.24 % — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in COP 407 46 — 83 661 36 1,233 (25) 1,264 1,239 Floating rate — — — — 447 — 447 250 465 715 Spread — — — — 2.02 % — 2.02 % — — — Fixed rate 407 46 — 83 214 36 786 (275) 799 524 Interest rate 5.08 % 2.67 % — 6.65 % 3.54 % 8.09 % 4.82 % — — — Rate cap — — — — — — — — — — Instruments in VEB (4) 1 — — — — (3) (3) — (3) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (4) 1 — — — — (3) (3) — (3) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Fair value Millions of euros 2021 2022 2023 2024 2025 Subsequent years Notional Underlying debt Associated derivatives TOTAL Instruments in MXN 65 17 — — — — 82 (72) 153 81 Floating rate 8 1 — — — — 9 9 — 9 Spread (2.73 %) 0.11 % — — — — (2.35 %) — — — Fixed rate 57 16 — — — — 73 (81) 153 72 Interest rate 4.37 % 4.59 % — — — — 4.45 % — — — Rate cap — — — — — — — — — — Asia Instruments in JPY — — — — — — — 116 (121) (5) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 116 (121) (5) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — TOTAL 38,880 39,447 (13) 39,434 Floating rate 14,375 1,080 13,458 14,538 Fixed rate 24,393 38,256 (13,506) 24,750 Rate cap 112 111 — 111 Currency Options and Others (*) — — 35 35 (*) 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, 2020: Interest rate swaps Millions of euros Maturity Non trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value EUR (388) Fixed to fix — — — — — — — 1 Receiving leg (100) (75) — — — — (175) (126) Average Interest Rate — — — — — — — — Paying leg 100 75 — — — — 175 127 Average Interest Rate 1.18 % 0.55 % — — — — 0.91 % — Fixed to floating — — — — — — — (622) Receiving leg (6,120) (3,718) (2,974) (2,093) (1,665) (5,065) (21,635) (13,045) Average Interest Rate 1.71 % 1.02 % 1.50 % 0.80 % 0.59 % 0.52 % 1.11 % — Paying leg 6,120 3,718 2,974 2,093 1,665 5,065 21,635 12,423 Average Spread 0.60 % 1.06 % 0.46 % 0.24 % 0.32 % 0.05 % 0.47 % — Floating to fixed — — — — — — — 233 Receiving leg (220) (359) (1,997) (470) (50) (2,122) (5,218) (5,210) Average Spread 2.75 % — — — — 0.11 % 0.16 % — Paying leg 220 359 1,997 470 50 2,122 5,218 5,443 Average Interest Rate 0.14 % 1.30 % 1.02 % 1.26 % 0.65 % 0.37 % 0.76 % — USD (5) Fixed to floating — — — — — — — (24) Receiving leg (277) (522) (277) (139) — — (1,215) (407) Average Interest Rate 1.61 % 1.73 % 1.74 % 3.55 % — — 1.91 % — Paying leg 277 522 277 139 — — 1,215 383 Average Spread 1.68 % 0.92 % 1.77 % — — — 1.18 % — Floating to fixed — — — — — — — 19 Receiving leg — (245) — (139) — — (384) (383) Average Spread — — — — — — — — Paying leg — 245 — 139 — — 384 402 Average Interest Rate — 1.93 % — 2.52 % — — 2.14 % — Interest rate swaps Millions of euros Maturity Trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value EUR 2,221 Fixed to floating — — — — — — — (162) Receiving leg (1,500) (250) (1,500) — (125) (425) (3,800) (3,957) Average Interest Rate 1.29 % 1.20 % 1.54 % — 0.32 % 0.70 % 0.78 % — Paying leg 1,500 250 1,500 — 125 425 3,800 3,795 Average Spread — — — — — — — — Floating to fixed — — — — — — — 2,383 Receiving leg (522) (192) — (700) (1,054) (9,282) (11,750) (11,358) Average Spread — — — — 0.15 % — 0.01 % — Paying leg 522 192 — 700 1,054 9,282 11,750 13,741 Average Interest Rate 2.75 % 0.12 % — 2.30 % 0.54 % 1.09 % 1.17 % — USD (2,939) Fixed to floating — — — — — — — (2,939) Receiving leg (1,475) (596) (715) (72) (368) (9,118) (12,344) (14,567) Average Interest Rate 3.44 % 1.74 % 1.85 % 2.36 % 1.30 % 3.12 % 2.96 % — Paying leg 1,475 596 715 72 368 9,118 12,344 11,628 Average Spread — — — — 1.03 % — 0.03 % — GBP (193) Fixed to floating — — — — — — — (193) Receiving leg — (891) — — — (445) (1,336) (1,523) Average Interest Rate — 3.67 % — — — 3.42 % 3.58 % — Paying leg — 891 — — — 445 1,336 1,330 Average Spread — — — — — — — — Millions of euros Maturity Trading purposes 2021 2022 2023 2024 2025 Subsequent years Total Fair value CLP 5 Fixed to floating — — — — — — — (1) Receiving leg (3) (3) (3) — — — (9) (9) Average Interest Rate 4.90 % 4.90 % 4.90 % — — — 4.90 % — Paying leg 3 3 3 — — — 9 8 Average Spread 1.27 % 1.27 % 1.27 % — — — 1.27 % — Floating to fixed — — — — — — — 6 Receiving leg (114) (17) (133) — — — (264) (264) Average Spread — — — — — — — — Paying leg 114 17 133 — — — 264 270 Average Interest Rate 3.26 % 0.69 % 1.54 % — — — 2.22 % — CHF (4) Fixed to floating — — — — — — — (4) Receiving leg — (139) — — — — (139) (143) Average Interest Rate — 0.75 % — — — — 0.75 % — Paying leg — 139 — — — — 139 139 Average Spread — — — — — — — — COP 9 Floating to fixed — — — — — — — 9 Receiving leg — — — — (214) (36) (250) — Average Spread — — — — — 3.39 % 0.49 % — Paying leg — — — — 214 36 250 9 Average Interest Rate — — — — 3.54 % 8.09 % 4.20 % — |
Schedule of Maturity Analysis for Derivative Financial Liabilities | Exchange rate options Maturities Millions of euros 2021 2022 2023 2024 2025 Subsequent years Put Currencies (USDBRL, BRLUSD) Notional amount of options bought 1,104 — — — — — Strike 5.11 — — — — — Notional amount of options sold 943 — — — — — Strike 5.03 — — — — — Put Currencies (EURGBP, GBPEUR) Notional amount of options bought 1,667 — — — — — Strike 0.75 — — — — — Notional amount of options sold 1,515 — — — — — Strike 0.83 — — — — — Call Currencies (EURGBP, GBPEUR) Notional amount of options bought 1,384 — — — — — Strike 0.90 — — — — — Notional amount of options sold 1,250 — — — — — Strike 1.00 — — — — — Interest rate options, by maturity, are as follows: Interest rate options Maturities Millions of euros 2021 2022 2023 2024 2025 Subsequent years Collars Notional amount of options bought — 835 — — — — Strike Cap — 4.92 — — — — Strike Floor — 4.15 — — — — Caps Notional amount of options bought — — — — — — Strike — — — — — — Notional amount of options sold — 835 — — — — Strike — 5.53 — — — — Floors Notional amount of options bought — 835 — — — — 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 2021 2022 2023 2024 2025 Subsequent years Total Currency swaps Receive BRL 7 — — — — — 7 Pay BRL (223) — — — — — (223) Receive CLP 40 275 80 — — — 395 Pay CLP (114) (551) (351) — — — (1,016) Receive COP — — — — — — — Pay COP — — — — (447) — (447) Receive EUR 909 — — — — — 909 Pay EUR (3,144) (875) (668) (80) (46) (10,101) (14,914) Receive GBP — 557 — — — 445 1,002 Pay GBP — — — — — — — Receive JPY — — — — — 119 119 Pay JPY — — — — — — — Receive MXN 25 25 25 25 25 117 242 Pay MXN (25) (25) (25) (25) (25) (117) (242) Receive PEN — — — — — — — Pay PEN — — — — 1 — 1 Receive UFC — — 200 — — — 200 Pay UFC — — (100) — — — (100) Receive USD 3,253 1,003 885 72 450 8,710 14,373 Pay USD (638) (408) — — (1) — (1,047) Receive UDI 37 37 37 37 37 170 355 Pay UDI (37) (37) (37) (37) (37) (170) (355) Receive CHF — 139 — — — — 139 Pay CHF — — — — — — — TOTAL 90 140 46 (8) (43) (827) (602) (*) The largest volume of cash flows collected in this table falls into the following currency pairs. The average exchange rates to which the settlements have been closed are: EUR/GBP (0.81), EUR/USD (1.15), USD/COP (3,729.46) and EUR/CHF (1.20). Millions of euros 2021 2022 2023 2024 2025 Subsequent years Total Forwards Receive BRL 149 — — — — — 149 Pay BRL (2,610) — — — — — (2,610) Receive CLP 1 — — — — — 1 Pay CLP (554) (26) — — — — (580) Receive COP 412 — — — — — 412 Pay COP (993) (15) — — — — (1,008) Receive CZK 65 — — — — — 65 Pay CZK — — — — — — — Receive EUR 14,223 — — — — — 14,223 Pay EUR (1,229) — — — — — (1,229) Receive GBP 528 — — — — — 528 Pay GBP (8,521) — — — — — (8,521) Receive MXN — — — — — — — Pay MXN (151) (3) — — — — (154) Receive PEN 14 — — — — — 14 Pay PEN (223) — — — — — (223) Receive USD 2,563 41 1 — — — 2,605 Pay USD (3,799) — — — — — (3,799) Receive UYU — — — — — — — Pay UYU (9) — — — — — (9) TOTAL (134) (3) 1 — — — (136) (*) The largest volume of cash flows collected in this table falls into the following currency pairs. The average exchange rates to which the settlements have been closed are: EUR/GBP (0.91), EUR/USD (1.20), USD/COP (3,739.23) and EUR/BRL (6.44). |
Appendix V_ Interest-Bearing _2
Appendix V: Interest-Bearing Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Appendix V: Interest-Bearing Debt [Abstract] | |
Schedule of Interest-Bearing Debt | Interest-bearing debt arranged or repaid in 2020 mainly includes the following: Description Limit 12/31/2020 (million euros) Currency Outstanding balance 12/31/2020 (million euros) Arrangement date Maturity date Drawndown 2020 (million euros) Repayment 2020 (million euros) Telefónica, S.A. Bilateral Credit (1) 135 EUR — 05/14/2019 05/14/2024 — — Bilateral loan — EUR 150 11/08/2019 03/12/2030 150 — Bilateral loan — EUR 200 12/04/2019 05/06/2027 200 — Bilateral loan (2) 200 EUR — 12/18/2020 06/18/2024 — — Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 02/25/2020 03/24/2025 175 — Syndicated loan (3) — USD 204 03/18/2020 03/18/2025 261 (61) Telefónica Germany GmbH & Co. OHG EIB Financing (Tranche 2) 150 EUR — 01/14/2020 07/14/2029 — — T. Móviles Chile, S.A. Bilateral loan (4) — USD 114 04/17/2020 09/29/2023 114 — T. UK Limited Syndicated loan (5) — GBP — 05/07/2020 09/29/2020 — — (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 million to USD 250 million. (4) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (5) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six The main debentures and bonds issued by the Group in 2020 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 02/03/2020 02/03/2030 1,000 1,000 EUR 0.664 % EMTN Bond 05/21/2020 08/21/2027 1,250 1,250 EUR 1.201 % EMTN Bond 05/21/2020 05/21/2032 750 750 EUR 1.807 % EMTN Bond 07/13/2020 07/13/2040 500 500 EUR 1.864 % Colombia Telecomunicaciones S.A E.S.P. Bond 07/17/2020 07/17/2030 500 408 USD 4.950 % The main financing transactions at December 31, 2020 and 2019 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2020 12/31/2019 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 18 USD 15 53 05/03/2011 07/30/2021 Structured Financing (*) 199 USD 162 282 02/22/2013 01/31/2023 Structured Financing (*) 187 USD 152 243 08/01/2013 10/31/2023 Structured Financing (*) 414 USD 338 448 12/11/2015 03/11/2026 Structured Financing (*) 281 EUR 281 341 12/11/2015 03/11/2026 Credit 100 GBP 111 117 05/23/2013 03/01/2023 Bilateral credit (1) 135 EUR — — 05/14/2019 05/14/2024 Bilateral loan — EUR 200 200 07/11/2019 08/14/2026 Bilateral loan — EUR 150 — 11/08/2019 03/12/2030 Bilateral loan — EUR 200 — 12/04/2019 05/06/2027 Syndicated 5,500 EUR — — 03/15/2018 03/15/2025 Bilateral loan (2) 200 EUR — — 12/18/2020 06/18/2024 Telefónica Germany GmbH & Co. OHG EIB Financing — EUR 333 408 06/13/2016 06/13/2025 Syndicated (3) 750 EUR — — 12/17/2019 12/17/2024 EIB Financing (Tranche 1) 300 EUR — — 12/18/2019 06/18/2029 EIB Financing (Tranche 2) 150 EUR — — 01/14/2020 07/14/2029 Colombia Telecomunicaciones, S.A. E.S.P. Bilateral loan — USD 175 — 02/25/2020 03/24/2025 Syndicated (4) — USD 204 — 03/18/2020 03/18/2025 Telxius Telecom, S.A. Syndicated 103 EUR 197 300 12/01/2017 12/01/2024 Bilateral loan — EUR 150 150 11/29/2019 11/29/2021 Telefónica Móviles Chile, S.A. Bilateral loan (5) — USD 114 — 04/17/2020 09/29/2023 T. UK Limited Syndicated (6) — GBP — — 05/07/2020 09/29/2020 (1) On February 18, 2020, there was a decrease in the limit of the bilateral credit from 300 million euros to 135 million euros. (2) The bilateral loan has two annual extension options. (3) The financing matures in 2024, with two annual extension options at the request of Telefónica Germany GmbH & Co. OHG, for a maximum maturity in 2026. (4) On July 17, 2020, there was an early repayment for USD 70 million, therefore the outstanding amount was from USD 320 millions to USD 250 millions. (5) On September 30, 2020, there was an extension of the maturity for the USD 140 million bilateral loan up to 2023. (6) On September 29, 2020, there was an early repayment of the syndicated loan. The original maturity of the loan was 2021 with two six-months extension options at T. UK Limited request with a maturity up to 2022. |
Appendix VI_ Key Regulatory I_2
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about service concession arrangements [abstract] | |
Schedule of Detailed Information about Service Concession Arrangements | The following tables list the concessions and licenses as at December 31, 2020 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 1800 MHz 40 2030 1900 MHz (TDD) 5 2030 (1) 2100 MHz 29.6 2030 (1) 2600 MHz 40 2030 2600 MHz 20 (2) 2030 2600 MHz (TDD) 10 (3) 2030 3.5 GHz 40 2030 (1) 3.7 GHz (TDD) 50 2038 United Kingdom 800 MHz 20 Indefinite (4) 900 MHz 34.8 Indefinite 1800 MHz 11.6 Indefinite 1900 MHz (TDD) 5 Indefinite 2100 MHz 20 Indefinite 2300 MHz (TDD) 40 Indefinite (4) 2600 MHz (TDD) 25 Indefinite 3.5 GHz (TDD) 40 Indefinite (4) Germany 700 MHz 20 2033 800 MHz 20 2025 900 MHz 20 2033 1800 MHz 20 2033 1800 MHz 20 2025 1900 MHz (TDD) 5 2025 1900 MHz (TDD) 5 2020 2000 MHz (TDD) 14.2 2025 2100 MHz 39.6 2020 2100 MHz 29.7 2025 2600 MHz 60 2025 2600 MHz (TDD) 20 2025 3.5 GHz (TDD) 70 2040 (1) Initial term until 2020, extended concession until 18 April 2030. (2) Regional licenses in Madrid and Melilla. (3) National license excluding 2 regions (Madrid and Melilla). (4) Initial term of 20 years BRAZIL (1)(2) Frequency Bandwidth (MHz) Year of Exp. Date 450 MHz 14 (3) 2027 700 MHz 20 2029 850 MHz 25 (4) 2028 (5) 900 MHz 5 (6) 2023-2035 (7) 1800 MHz 20-50 (8) 2023-2035 (7) 2100 MHz 20-30 (11) 2023 2500 MHz 40 (9) 2027-2031 (10) (1) Expiration date accounts for initial term of 15 years, another 15 years extension is contemplated in all licenses. (2) Regional codes are included in Annex 1. (3) SP State (towns with CN 13 to 19), MG and North East (AL, CE, PB, PE, PI, RN e SE). (4) Except regions 2', 4', 6', 7', 7’’ and 10. (5) Regional licenses expiring in different dates. Extended concession until 2028. (6) Only in regions 3, 4, 4', 5, 6, 7, 8 and 9. Not in regions 1, 2, 2', 5', 6', 7', 7’’ and 10. (7) Regional licenses: expiration and renewal dates are dependent on the region. Extended concession until 2035. (8)20 MHz is the most common bandwidth, but it is higher in some regions (up to 50 MHz). (9)40 MHz national license, plus Band P (20 MHz) in some areas. (10) Band X will expire in 2027 and Band P will expire in 2031. (11) 30 MHz in some regions. HISPANOAMÉRICA Frequency Bandwidth (MHz) Year of Exp. Date Argentina 700 MHz 20 2033 850 MHz (AMBA) 30 Indefinite 850 MHz (Sur) 25 Indefinite 1900 MHz (AMBA) 20 Indefinite 1900 MHz (Norte) 50 Indefinite 1900 MHz (Sur) 25 Indefinite 1700 MHz/2100 MHz 20 2033 2600 MHz 30 2035 (1) 3.5 GHz 50 Indefinite (2) Chile 700 MHz 20 2045 850 MHz 25 Indefinite 1900 MHz 30 2032/2033 (3) 2600 MHz 40 2043 2600 MHz (TDD) 12 2038 (4) Colombia 850 MHz 25 2024 1700 MHz/2100 MHz 30 2023 1900 MHz 15 2024 1900 MHz 15 2021 Ecuador 850 MHz 25 2023 1900 MHz 60 2023 Mexico (5)(14) 850 MHz (Reg. 1, 2, 3, 4) 20 2020/2022 (6) 850 MHz (Monterrey and surroundings) 1.92 2020 1900 MHz (Reg. 1) 40 2020 1900 MHz (Reg. 2) 40 2022 (7) 1900 MHz (Reg. 3) 40 2020 (8) 1900 MHz (Reg. 4) 40 2020 (9) 1900 MHz (Reg. 5) 50 2021 1900 MHz (Reg. 6) 50 2021 (10) 1900 MHz (Reg.7) 50 2020 (11) 1900 MHz (Reg.8 - Guerrero, Oaxaca, Puebla,Tlaxcala and Veracruz) 50 2022 (12) 1900 MHz (Reg. 9 – Mexico D.F. ) 60 2021 (13) Peru 450 MHz 10 2028 700 MHz 30 2036 850 MHz 25 2030 (15) 900 MHz (Lima and Callao) 10 2028 900 MHz (Rest of provinces) 16 2028 1700 MHz/2100 MHz 40 2033 1900 MHz (Lima and Callao) 25 2030 1900 MHz (Rest of provinces) 25 2018 (16) 3.5 GHz 50 2027 Uruguay 700 MHz 30 2037 850 MHz 25 2024 1900 MHz 20 2022/2024 (17) 1900 MHz 40 2033 2600 MHz 40 2045 Venezuela 850 MHz 25 2022 1900 MHz 50 2022 1700 MHz/2100 MHz 20 2022 2600 MHz 40 2029 3.5 GHz 50 2026 Costa Rica 850 MHz 10.6 2026 1800 MHz 30 2026 1800 MHz 20 2032 2100 MHz 20 2026 2100 MHz 20 2032 El Salvador 850 MHz 25 2038 1900 MHz 30 2041 (1) Covering 65% of the population. (2) Only in 37 locations. (3) 20 MHz expires in November 2032; 10 MHz in April 2033. Ongoing process to return 10MHz by 2021 as a result of the ‘Subtel’ (Chilean National Regulator) proposal to comply with the High Court resolution (June 2018) that mandates operators to return certain amount of spectrum they acquired in the 700MHz auction in 2014. (4) Only in Metropolitan Region. (5) Regional codes are included in Annex 2. (6) In Regions 1, 3 and 4: 20 MHz expires in 31.12.2020; In Region 2: 20 MHz expires in 30.06.2022. (7) 40 MHz expires in 30.06.2022. (8) 40 MHz expires in 31.12.2020. (9) 40 MHz expires in 31.12.2020. (10) 50 MHz expires in 31.12.2021. (11) 50 MHz expires in 31.12.2020. (12) 50 MHz expires in 30.06.2022. (13) 60 MHz expires in 31.12.2021. (14) The spectrum concessions have been renounced by Pegaso PCS, SA DE CV, anticipating its expiration dates to the dates listed. This renounce was notified to IFETEL on November 21, 2019. (15) Provinces of Lima and Callao: expiration date of March 2030; rest of provinces in December 2030. (16) Under review. Extension requested on May 30, 2016. According to the law, the license maintains its validity until the Ministry of Transport and Communications decides. |
Basis of Presentation of the _3
Basis of Presentation of the Consolidated Financial Statements - COVID-19 Impact And Response (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Currency [Line Items] | ||
Increase (decrease) in consolidated revenue, percentage | (11.00%) | |
Increase (decrease) in operating income, percentage | (8.80%) | |
Increase (decrease) in capital expenditures | (33.30%) | |
Increase (decrease) in equity due to depreciation of euro to major currencies | € (5,801) | |
Impairment loss recognised in other comprehensive income, property, plant and equipment | 275 | |
Reversal of deferred tax assets | 101 | |
Telefónica Argentina | ||
Currency [Line Items] | ||
Reversal of deferred tax liabilities associated with hyperinflation | 94 | |
Telefónica Argentina | ||
Currency [Line Items] | ||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 206 | |
Impairment loss recognised in other comprehensive income, property, plant and equipment | 269 | |
Service concession arrangements and licenses | Telefónica Argentina | ||
Currency [Line Items] | ||
Impairment loss recognised in other comprehensive income, intangible assets other than goodwill | 106 | |
Telefónica Argentina | ||
Currency [Line Items] | ||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 519 | € 206 |
Brazilian real | ||
Currency [Line Items] | ||
Variation of closing exchange rate (12/31/2020 vs 12/31/2019) | (29.00%) | |
Variation of average exchange rate (2020 vs 2019) | (24.10%) | |
Pound sterling | ||
Currency [Line Items] | ||
Variation of closing exchange rate (12/31/2020 vs 12/31/2019) | (5.20%) | |
Variation of average exchange rate (2020 vs 2019) | (1.30%) | |
PEN | ||
Currency [Line Items] | ||
Variation of closing exchange rate (12/31/2020 vs 12/31/2019) | (16.20%) | |
Variation of average exchange rate (2020 vs 2019) | (6.10%) | |
ARS | ||
Currency [Line Items] | ||
Variation of closing exchange rate (12/31/2020 vs 12/31/2019) | (34.80%) | |
Variation of average exchange rate (2020 vs 2019) | (34.80%) | |
CLP | ||
Currency [Line Items] | ||
Variation of closing exchange rate (12/31/2020 vs 12/31/2019) | (3.60%) | |
Variation of average exchange rate (2020 vs 2019) | (12.90%) | |
Colombian Peso | ||
Currency [Line Items] | ||
Variation of closing exchange rate (12/31/2020 vs 12/31/2019) | (12.60%) | |
Variation of average exchange rate (2020 vs 2019) | (12.60%) | |
MXN | ||
Currency [Line Items] | ||
Variation of closing exchange rate (12/31/2020 vs 12/31/2019) | (13.30%) | |
Variation of average exchange rate (2020 vs 2019) | (11.50%) |
Basis of Presentation of the _4
Basis of Presentation of the Consolidated Financial Statements - Agreement between Telefonica and Liberty Global plc and Acquisition Of Prosegur's Alarm Business (Details) € in Millions, £ in Millions | Jan. 13, 2021site | Feb. 28, 2020EUR (€)shares | Dec. 31, 2021GBP (£) | Dec. 31, 2020EUR (€) |
Forecast | ||||
Disclosure of joint ventures [line items] | ||||
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations | £ | £ 5,700 | |||
Proceeds from equalization payment | £ | £ 2,500 | |||
Other disposals of assets | ||||
Disclosure of joint ventures [line items] | ||||
Number of telecommunication tower sites sold | site | 30,722 | |||
Prosegur Alarmas España, S.L. | ||||
Disclosure of joint ventures [line items] | ||||
Investments accounted for by the equity method | € | € 0 | |||
Prosegur Alarmas España, S.L. | Associates and Joint Ventures | ||||
Disclosure of joint ventures [line items] | ||||
Proportion of ownership interest in equity method investment | 50.00% | |||
Number of shares issued for equity method investment (in shares) | shares | 49,545,262 | |||
Investments accounted for by the equity method | € | € 266 | |||
Telxius Telecom, S.A. | Other disposals of assets | ||||
Disclosure of joint ventures [line items] | ||||
Number of telecommunication tower sites sold | site | 30,722 |
Basis of Presentation of the _5
Basis of Presentation of the Consolidated Financial Statements - Impact of Adopting IFRS 16 (Details) - EUR (€) € / shares in Units, € in Millions | Jan. 01, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||
Disclosure of subsidiaries [line items] | ||||||||
Right-of-use assets at beginning of period | € 0 | € 6,939 | € 0 | |||||
Right-of-use assets at end of period | 7,870 | 4,982 | 6,939 | € 0 | ||||
Balance at beginning of period | 0 | 7,226 | 0 | |||||
Balance at end of period | 7,705 | 5,294 | 7,226 | 0 | ||||
Equity | 26,996 | 18,260 | 25,450 | 26,980 | € 29,229 | € 26,618 | ||
Profit or loss [abstract] | ||||||||
Revenues | 43,076 | 48,422 | 48,693 | |||||
Other income | 1,587 | 2,842 | 1,622 | |||||
Supplies | (13,014) | (13,635) | (14,013) | |||||
Personnel expenses | (5,280) | (8,066) | (6,332) | |||||
Other expenses | (12,871) | (14,444) | (14,399) | |||||
Depreciation and amortization | (9,359) | (10,582) | (9,049) | |||||
OPERATING INCOME | 4,139 | 4,537 | 6,522 | |||||
Share of income (loss) of investments accounted for by the equity method | 2 | 13 | 4 | |||||
Finance income | 677 | 842 | 1,458 | |||||
Exchange gains | 3,847 | 2,461 | 3,389 | |||||
Finance costs | (2,417) | (2,795) | (2,690) | |||||
Exchange losses | (3,665) | (2,340) | (3,112) | |||||
Net financial expense | (1,558) | (1,832) | (955) | |||||
PROFIT BEFORE TAX | 2,583 | 2,718 | 5,571 | |||||
Corporate income tax | (626) | (1,054) | (1,621) | |||||
PROFIT FOR THE PERIOD | 1,957 | 1,664 | [1] | 3,950 | [1] | |||
Attributable to equity holders of the parent | 1,582 | 1,142 | 3,331 | |||||
Attributable to non-controlling interests | € 375 | € 522 | € 619 | |||||
Basic and diluted earnings per share attributable to equity holders of the parent (EUR per share) | € 0.24 | € 0.16 | € 0.54 | |||||
Principal payments of lease liabilities | € 1,787 | € 1,518 | € 0 | |||||
Net payments of interest and other financial expenses net of dividends received | 1,171 | 1,725 | € 1,636 | |||||
IAS 17 | ||||||||
Profit or loss [abstract] | ||||||||
Revenues | 48,422 | |||||||
Other income | 3,032 | |||||||
Supplies | (14,490) | |||||||
Personnel expenses | (8,070) | |||||||
Other expenses | (15,284) | |||||||
Depreciation and amortization | (8,950) | |||||||
OPERATING INCOME | 4,660 | |||||||
Share of income (loss) of investments accounted for by the equity method | 13 | |||||||
Finance income | 842 | |||||||
Exchange gains | 2,449 | |||||||
Finance costs | (2,599) | |||||||
Exchange losses | (2,310) | |||||||
Net financial expense | (1,618) | |||||||
PROFIT BEFORE TAX | 3,055 | |||||||
Corporate income tax | (1,104) | |||||||
PROFIT FOR THE PERIOD | 1,951 | |||||||
Attributable to equity holders of the parent | 1,383 | |||||||
Attributable to non-controlling interests | € 568 | |||||||
Basic and diluted earnings per share attributable to equity holders of the parent (EUR per share) | € 0.20 | |||||||
IFRS 16 Impact | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Right-of-use assets of companies held for sale | € 155 | |||||||
Reclassification of property, plant and equipment deriving from finance leases | (249) | |||||||
Advance payments of lease contracts in force | (178) | |||||||
Effect on accounts receivable for subleases | 18 | |||||||
Right-of-use assets at end of period | 7,616 | |||||||
Lease liabilities of companies held for sale | 152 | |||||||
Reclassification of finance lease liabilities | (201) | |||||||
Reclassification of other lease liabilities | (56) | |||||||
Balance at end of period | 7,600 | |||||||
Equity | € 16 | |||||||
Profit or loss [abstract] | ||||||||
Revenues | 0 | |||||||
Other income | (190) | |||||||
Supplies | 855 | |||||||
Personnel expenses | 4 | |||||||
Other expenses | 840 | |||||||
Depreciation and amortization | (1,632) | |||||||
OPERATING INCOME | (123) | |||||||
Share of income (loss) of investments accounted for by the equity method | 0 | |||||||
Finance income | 0 | |||||||
Exchange gains | 12 | |||||||
Finance costs | (196) | |||||||
Exchange losses | (30) | |||||||
Net financial expense | (214) | |||||||
PROFIT BEFORE TAX | (337) | |||||||
Corporate income tax | 50 | |||||||
PROFIT FOR THE PERIOD | (287) | |||||||
Attributable to equity holders of the parent | (241) | |||||||
Attributable to non-controlling interests | € (46) | |||||||
Basic and diluted earnings per share attributable to equity holders of the parent (EUR per share) | € (0.05) | |||||||
Principal payments of lease liabilities | 1,787 | € 1,518 | ||||||
Net payments of interest and other financial expenses net of dividends received | € 179 | € 185 | ||||||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, |
Basis of Presentation of the _6
Basis of Presentation of the Consolidated Financial Statements - Translation of Telefonica Venezolana's Financial Statements (Details) € in Millions | 12 Months Ended | ||||
Dec. 31, 2020EUR (€)venezuelanBolivarSoberano / $ | Dec. 31, 2019EUR (€)venezuelanBolivarSoberano / $ | Dec. 31, 2018EUR (€) | |||
Disclosure of subsidiaries [abstract] | |||||
Revenues | € 43,076 | € 48,422 | € 48,693 | ||
Profit before tax | 2,583 | 2,718 | 5,571 | ||
Income tax | (626) | (1,054) | (1,621) | ||
Result for the year | 1,957 | 1,664 | [1] | 3,950 | [1] |
Net cash flow provided by operating activities | 13,196 | 15,022 | € 13,423 | ||
Non-current assets | € 71,396 | € 94,549 | |||
Conversion at synthetic exchange rate | |||||
Disclosure of subsidiaries [line items] | |||||
Translation exchange rate | venezuelanBolivarSoberano / $ | 2,094,405 | 68,448 | |||
Impact on retained earnings | € (26) | € 212 | |||
Venezuela | |||||
Disclosure of subsidiaries [line items] | |||||
Inflation rate (as a percent) | 2959.80% | 9585.50% | 2106600.60% | ||
Translation exchange rate | venezuelanBolivarSoberano / $ | 1,107,199 | 46,621 | |||
Telefonica Venezolana | |||||
Disclosure of subsidiaries [abstract] | |||||
Revenues | € 72 | € 79 | € 18 | ||
Depreciation and amortization | (13) | (10) | (67) | ||
Operating income | (13) | 7 | (64) | ||
Financial result | 24 | 63 | 216 | ||
Profit before tax | 37 | 70 | 152 | ||
Income tax | (9) | 3 | (186) | ||
Result for the year | 28 | 73 | (34) | ||
Net cash flow provided by operating activities | (1) | 14 | 7 | ||
CapEx | 17 | 20 | 2 | ||
Non-current assets | € 51 | € 43 | € 238 | ||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, |
Basis of Presentation of the _7
Basis of Presentation of the Consolidated Financial Statements - Change in Accounting Policy for the Presentation of Hyperinflation Effects in Equity(Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Translation differences | Venezuela and Argentina | IAS 8 | ||
Disclosure of subsidiaries [line items] | ||
Translation differences | € 5,664 | € 5,406 |
Basis of Presentation of the _8
Basis of Presentation of the Consolidated Financial Statements - Share Capital Transactions (Details) € in Millions, $ in Millions | Jul. 30, 2020EUR (€) | Jul. 30, 2020USD ($) | Aug. 29, 2019EUR (€) | Aug. 29, 2019USD ($) | May 16, 2019EUR (€) | May 16, 2019USD ($) | Feb. 20, 2019EUR (€) | Feb. 20, 2019USD ($) | Feb. 14, 2019EUR (€) | Jan. 24, 2019EUR (€) | Jan. 24, 2019USD ($) | Nov. 08, 2018EUR (€) | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) |
Disclosure of classes of share capital [line items] | |||||||||||||||
Other income | € 1,587 | € 2,842 | € 1,622 | ||||||||||||
Telefónica Centroamericana Inversiones, S.L. | Telefonica, S.A. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proportion of ownership interest (as a percent) | 60.00% | 60.00% | |||||||||||||
Telefónica Centroamericana Inversiones, S.L. | Corporacion Multi Inversiones, SA | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proportion of ownership interest (as a percent) | 40.00% | 40.00% | |||||||||||||
Telefónica Moviles Guatemala | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Equity attributable to noncontrolling interests | € 114 | ||||||||||||||
Telefonía Celular de Nicaragua, S.A. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Equity attributable to noncontrolling interests | 112 | ||||||||||||||
Telefónica Móviles Panamá, S.A. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Equity attributable to noncontrolling interests | € 188 | ||||||||||||||
Grupo Catalana Occidente | Seguos de Vida y Pensiones Antares | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | € 161 | ||||||||||||||
Non-current assets or disposal groups classified as held for sale | 793 | ||||||||||||||
Liabilities associated with noncurrent assets held for sale | € 661 | ||||||||||||||
Capital gain (loss) | € 98 | ||||||||||||||
Reclassification between actuarial gains and losses and impact of limit on assets for defined benefit pension plans and retained earnings | € 89 | ||||||||||||||
Proceeds from exchange of share capital | € 161 | ||||||||||||||
Grupo Catalana Occidente | Seguos de Vida y Pensiones Antares | Telefonica, S.A. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proportion of voting equity transferred (as a percent) | 100.00% | ||||||||||||||
America Movil, SAB de CV | Telefónica Moviles Guatemala & Telefónica Moviles El Salvador | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | 570 | $ 648 | |||||||||||||
Proceeds from exchange of share capital | 570 | $ 648 | |||||||||||||
America Movil, SAB de CV | Telefónica Moviles Guatemala | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | 293 | ||||||||||||||
Proceeds from exchange of share capital | 293 | ||||||||||||||
America Movil, SAB de CV | Telefónica Moviles El Salvador | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | 277 | ||||||||||||||
Proceeds from exchange of share capital | € 277 | ||||||||||||||
America Movil, SAB de CV | Telefónica Moviles El Salvador | Telefonica, S.A. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proportion of voting equity transferred (as a percent) | 99.30% | ||||||||||||||
America Movil, SAB de CV | Telefónica de Costa Rica TC, S.A. | Disposal of major subsidiary | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | € 425 | $ 500 | € 503 | $ 570 | |||||||||||
Proceeds from exchange of share capital | € 425 | $ 500 | 503 | 570 | |||||||||||
Millicom International Cellular, S.A. | Telefonica Moviles Panama & Telefonica Celular de Nicaragua & Telefonica de Costa Rica | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | 1,455 | 1,650 | |||||||||||||
Proceeds from exchange of share capital | € 1,455 | $ 1,650 | |||||||||||||
Millicom International Cellular, S.A. | Telefonía Celular de Nicaragua, S.A. | Telefónica Centroamericana Inversiones, S.L. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | € 390 | $ 437 | |||||||||||||
Other income | 172 | ||||||||||||||
Proceeds from exchange of share capital | € 390 | $ 437 | |||||||||||||
Millicom International Cellular, S.A. | Telefónica Móviles Panamá, S.A. | |||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||
Proceeds from exchange of share capital | € 536 | $ 594 | |||||||||||||
Other income | 190 | ||||||||||||||
Proceeds from exchange of share capital | € 536 | $ 594 |
Basis of Presentation of the _9
Basis of Presentation of the Consolidated Financial Statements - Individual Suspension Plan (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | |||
Employee benefits expense | € 5,280 | € 8,066 | € 6,332 |
Individual Suspension Plan | |||
Disclosure of other provisions [line items] | |||
Employee benefits expense | € 1,732 | € 297 |
Basis of Presentation of the_10
Basis of Presentation of the Consolidated Financial Statements - Sale of a Portfolio of Data Centers (Details) € in Millions | May 08, 2019EUR (€)data_centerjurisdiction | Dec. 31, 2019EUR (€) |
Asterion Industrial Partners SGEIC | Telefonica, S.A. | ||
Disclosure of subsidiaries [line items] | ||
Number of data centers sold | data_center | 11 | |
Proceeds from sale of portfolio of data centers | € 550 | |
Number of jurisdictions in which data centers were sold | jurisdiction | 7 | |
Other Income | ||
Disclosure of subsidiaries [line items] | ||
Capital gain (loss) | € 213 |
Basis of Presentation of the_11
Basis of Presentation of the Consolidated Financial Statements - Transformation of Operating Model of Telefonica Mexico (Details) - EUR (€) € in Millions | Nov. 21, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of subsidiaries [line items] | ||||||
Provisions | € 8,461 | € 10,158 | ||||
Net loss | (1,957) | (1,664) | [1] | € (3,950) | [1] | |
Telefonica Moviles Mexico | ||||||
Disclosure of subsidiaries [line items] | ||||||
Workforce reduction expense | € 44 | |||||
Net loss | 27 | |||||
Profit (loss) corresponding to fully paid licenses | (123) | |||||
Profit (loss) corresponding to licenses with deferred payments | 95 | |||||
Accelerated depreciation and amortization due to reduction of useful lives | 36 | |||||
Reduction of net financial debt | € 508 | |||||
Reversal of deferred tax assets | € 454 | € 327 | ||||
Telefónica México | ||||||
Disclosure of subsidiaries [line items] | ||||||
Period of wholesale wireless access service agreement, initial | 8 years | |||||
Additional, consecutive period of wholesale wireless service agreement if renewed | 3 years | |||||
Gradual migration period of network access as part of wholesale wireless access service agreement | 3 years | |||||
Increase (decrease) in depreciation, property, plant and equipment | 204 | |||||
Increase (decrease) in amortization, right-of-use assets | 110 | |||||
Increase (decrease) in amortization of intangible assets | € 6 | |||||
Other Expenses | Telefonica Moviles Mexico | ||||||
Disclosure of subsidiaries [line items] | ||||||
Provisions | € 167 | |||||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, |
Accounting Policies - Hyperinfl
Accounting Policies - Hyperinflationary Economies (Details) | 12 Months Ended | ||
Dec. 31, 2020Bs. / $venezuelanBolivarSoberano / $$ / $ | Dec. 31, 2019$ / $venezuelanBolivarSoberano / $Bs. / $ | Dec. 31, 2018$ / $Bs. / $ | |
Disclosure of geographical areas [line items] | |||
Exchange rate as of closing date of period (per USD) | venezuelanBolivarSoberano / $ | 2,094,405 | 68,448 | |
Venezuela | |||
Disclosure of geographical areas [line items] | |||
Inflation rate (as a percent) | 2959.80% | 9585.50% | 2106600.60% |
Exchange rate as of closing date of period (per USD) | Bs. / $ | 2,094,405 | 68,448 | 7,608 |
Argentina | |||
Disclosure of geographical areas [line items] | |||
Exchange rate as of closing date of period (per USD) | $ / $ | 103.23 | 67.26 | 43.30 |
Cumulative index rate (as a percent) | 385.90% | 283.40% | 184.90% |
Annual index rate (as a percent) | 36.00% | 53.00% | 48.00% |
Accounting Policies - Intangibl
Accounting Policies - Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about intangible assets [line items] | |
Period covering projected cash flows for calculation of impairment | 5 years |
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, 2020 | |
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 |
Segment Information - Narrative
Segment Information - Narrative (Details) € in Millions | Jan. 13, 2021EUR (€) | Jun. 08, 2020EUR (€)site | May 07, 2020 | Sep. 01, 2020 | Aug. 31, 2021 | Aug. 31, 2021 |
Telefónica Germany GmbH & Co. OHG | ||||||
Disclosure of subsidiaries [line items] | ||||||
Number of sites transferred | site | 10,100 | |||||
Proceeds from transfer of sites | € | € 1,500 | |||||
Proportion of sites transferred (as a percent) | 60.00% | |||||
Telefónica Germany GmbH & Co. OHG | Other disposals of assets | ||||||
Disclosure of subsidiaries [line items] | ||||||
Proportion of sites to be transferred (as a percent) | 40.00% | 40.00% | ||||
Telefonica Germany Mobilfunk Standortgesellschaft mbH | ||||||
Disclosure of subsidiaries [line items] | ||||||
Number of sites owned | site | 6,000 | |||||
Telxius Telecom, S.A. | Other disposals of assets | ||||||
Disclosure of subsidiaries [line items] | ||||||
Revenue from sale of telecommunication equipment | € | € 7,700 | |||||
Joint Venture with Liberty Global plc | Joint ventures where entity is venturer | ||||||
Disclosure of subsidiaries [line items] | ||||||
Proportion of ownership interest in joint venture (as a percent) | 50.00% |
Segment Information - Income an
Segment Information - Income and Capital Expenditure Information Regarding Operating Segments (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Revenues | € 43,076 | € 48,422 | € 48,693 |
Other operating income and expenses | 354 | 641 | 523 |
Depreciation and amortization | (9,359) | (10,582) | (9,049) |
OPERATING INCOME | 4,139 | 4,537 | 6,522 |
Acquisitions of right-of-use assets | 1,916 | 1,284 | |
Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | (1,595) | (1,592) | (1,601) |
Other operating income and expenses | 1,137 | 1,213 | 1,525 |
OIBDA | (458) | (379) | (76) |
Depreciation and amortization | 315 | 267 | 39 |
OPERATING INCOME | (143) | (112) | (37) |
CapEx | (213) | (183) | (19) |
Acquisitions of right-of-use assets | (909) | (123) | |
Telefónica Spain | |||
Disclosure of operating segments [line items] | |||
Revenues | 12,118 | 12,528 | 12,461 |
Telefónica Spain | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 12,401 | 12,850 | 12,788 |
Other operating income and expenses | (7,355) | (9,131) | (7,993) |
OIBDA | 5,046 | 3,719 | 4,795 |
Depreciation and amortization | (2,184) | (2,013) | (1,678) |
OPERATING INCOME | 2,862 | 1,706 | 3,117 |
CapEx | 1,408 | 1,667 | 1,741 |
Acquisitions of right-of-use assets | 138 | 127 | |
Telefónica Spain | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 283 | 322 | 327 |
Telefónica United Kingdom | |||
Disclosure of operating segments [line items] | |||
Revenues | 6,666 | 7,068 | 6,757 |
Telefónica United Kingdom | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 6,708 | 7,109 | 6,790 |
Other operating income and expenses | (4,644) | (4,995) | (4,925) |
OIBDA | 2,064 | 2,114 | 1,865 |
Depreciation and amortization | (389) | (1,204) | (943) |
OPERATING INCOME | 1,675 | 910 | 922 |
CapEx | 913 | 914 | 1,464 |
Acquisitions of right-of-use assets | 116 | 157 | |
Telefónica United Kingdom | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 42 | 41 | 33 |
Telefónica Germany | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,500 | 7,364 | 7,281 |
Telefónica Germany | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,532 | 7,399 | 7,320 |
Other operating income and expenses | (5,223) | (5,073) | (5,486) |
OIBDA | 2,309 | 2,326 | 1,834 |
Depreciation and amortization | (2,394) | (2,463) | (2,071) |
OPERATING INCOME | (85) | (137) | (237) |
CapEx | 1,094 | 2,469 | 966 |
Acquisitions of right-of-use assets | 1,159 | 230 | |
Telefónica Germany | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 32 | 35 | 39 |
Telefónica Brazil | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,406 | 10,018 | 10,105 |
Telefónica Brazil | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,422 | 10,035 | 10,126 |
Other operating income and expenses | (4,234) | (5,773) | (5,815) |
OIBDA | 3,188 | 4,262 | 4,311 |
Depreciation and amortization | (1,965) | (2,516) | (1,990) |
OPERATING INCOME | 1,223 | 1,746 | 2,321 |
CapEx | 1,372 | 2,005 | 1,910 |
Acquisitions of right-of-use assets | 768 | 409 | |
Telefónica Brazil | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 16 | 17 | 21 |
Telefónica Hispam | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,786 | 9,504 | 9,815 |
Telefónica Hispam | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,922 | 9,650 | 9,939 |
Other operating income and expenses | (6,932) | (7,617) | (7,681) |
OIBDA | 990 | 2,033 | 2,258 |
Depreciation and amortization | (2,274) | (2,268) | (2,006) |
OPERATING INCOME | (1,284) | (235) | 252 |
CapEx | 833 | 1,485 | 1,681 |
Acquisitions of right-of-use assets | 364 | 367 | |
Telefónica Hispam | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 136 | 146 | 124 |
Telxius Group | |||
Disclosure of operating segments [line items] | |||
Revenues | 322 | 360 | 334 |
Telxius Group | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 826 | 842 | 792 |
Other operating income and expenses | (306) | (338) | (422) |
OIBDA | 520 | 504 | 370 |
Depreciation and amortization | (269) | (249) | (125) |
OPERATING INCOME | 251 | 255 | 245 |
CapEx | 348 | 284 | 181 |
Acquisitions of right-of-use assets | 353 | 88 | |
Telxius Group | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 504 | 482 | 458 |
Other companies | |||
Disclosure of operating segments [line items] | |||
Revenues | 1,288 | 1,580 | 1,940 |
Other operating income and expenses | (2,021) | (1,589) | (2,325) |
OIBDA | (161) | 540 | 214 |
Depreciation and amortization | (199) | (136) | (275) |
OPERATING INCOME | (360) | 404 | (61) |
CapEx | 106 | 143 | 195 |
Acquisitions of right-of-use assets | 25 | 37 | |
Other companies | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 1,860 | 2,129 | 2,539 |
Other companies | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 572 | 549 | 599 |
Telefonica Hispam and Telefonica Global Solutions | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | (10) | ||
Telefonica Brasil and Telxius Group | Eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | (1,585) | ||
Telefonica, S.A. | |||
Disclosure of operating segments [line items] | |||
Revenues | 43,076 | 48,422 | 48,693 |
Other operating income and expenses | (29,578) | (33,303) | (33,122) |
OIBDA | 13,498 | 15,119 | 15,571 |
Depreciation and amortization | (9,359) | (10,582) | (9,049) |
OPERATING INCOME | 4,139 | 4,537 | 6,522 |
CapEx | 5,861 | 8,784 | € 8,119 |
Acquisitions of right-of-use assets | € 2,014 | € 1,292 |
Segment Information - Segment A
Segment Information - Segment Assets, Liabilities and Investments Accounted for by the Equity Method (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | € 23,769 | € 32,228 | € 33,295 | |
Rights of use | 4,982 | 6,939 | € 7,870 | 0 |
Investments accounted for by the equity method | 427 | 140 | ||
Financial assets and other non-current assets | 7,270 | 7,123 | ||
Deferred tax assets | 6,416 | 6,682 | 7,631 | |
Other current financial assets | 2,495 | 3,123 | ||
Non-current assets and disposal groups held for sale | 15,413 | 818 | ||
Total allocated assets | 105,051 | 118,877 | ||
Non-current financial liabilities | 42,297 | 43,288 | ||
Non-current lease liabilities | 4,039 | 5,626 | ||
Deferred tax liabilities | 2,620 | 2,908 | € 2,674 | |
Current financial liabilities | 8,123 | 9,076 | ||
Current lease liabilities | 1,255 | 1,600 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 4,791 | 380 | ||
Telefónica Spain | ||||
Disclosure of operating segments [line items] | ||||
Deferred tax assets | 30 | 492 | ||
Other companies | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 1,140 | 753 | ||
Rights of use | 79 | 71 | ||
Investments accounted for by the equity method | 100 | 56 | ||
Financial assets and other non-current assets | 7,979 | 7,224 | ||
Deferred tax assets | 2,733 | 2,801 | ||
Other current financial assets | 10,187 | 5,587 | ||
Non-current assets and disposal groups held for sale | 418 | 762 | ||
Total allocated assets | 27,981 | 23,238 | ||
Non-current financial liabilities | 37,360 | 37,360 | ||
Non-current lease liabilities | 82 | 74 | ||
Deferred tax liabilities | 711 | 756 | ||
Current financial liabilities | 9,881 | 12,193 | ||
Current lease liabilities | 26 | 15 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 221 | 380 | ||
Total allocated liabilities | 51,033 | 53,216 | ||
Operating segments | Telefónica Spain | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 14,604 | 15,159 | ||
Rights of use | 1,332 | 1,500 | ||
Investments accounted for by the equity method | 266 | 0 | ||
Financial assets and other non-current assets | 330 | 167 | ||
Deferred tax assets | 2,212 | 2,384 | ||
Other current financial assets | 35 | 42 | ||
Non-current assets and disposal groups held for sale | 0 | 12 | ||
Total allocated assets | 24,098 | 24,491 | ||
Non-current financial liabilities | 758 | 775 | ||
Non-current lease liabilities | 1,074 | 1,252 | ||
Deferred tax liabilities | 141 | 158 | ||
Current financial liabilities | 852 | 854 | ||
Current lease liabilities | 291 | 283 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 0 | 0 | ||
Total allocated liabilities | 16,360 | 16,067 | ||
Operating segments | Telefónica United Kingdom | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 0 | 10,051 | ||
Rights of use | 0 | 716 | ||
Investments accounted for by the equity method | 0 | 9 | ||
Financial assets and other non-current assets | 0 | 468 | ||
Deferred tax assets | 0 | 2 | ||
Other current financial assets | 0 | 72 | ||
Non-current assets and disposal groups held for sale | 13,264 | 0 | ||
Total allocated assets | 13,264 | 13,869 | ||
Non-current financial liabilities | 0 | 1,132 | ||
Non-current lease liabilities | 0 | 490 | ||
Deferred tax liabilities | 0 | 101 | ||
Current financial liabilities | 0 | 0 | ||
Current lease liabilities | 0 | 213 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 4,897 | 0 | ||
Total allocated liabilities | 4,897 | 5,450 | ||
Operating segments | Telefónica Germany | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 13,005 | 14,091 | ||
Rights of use | 2,852 | 2,499 | ||
Investments accounted for by the equity method | 2 | 0 | ||
Financial assets and other non-current assets | 647 | 457 | ||
Deferred tax assets | 473 | 314 | ||
Other current financial assets | 67 | 17 | ||
Non-current assets and disposal groups held for sale | 0 | 0 | ||
Total allocated assets | 20,266 | 20,143 | ||
Non-current financial liabilities | 1,577 | 2,153 | ||
Non-current lease liabilities | 2,326 | 2,027 | ||
Deferred tax liabilities | 405 | 358 | ||
Current financial liabilities | 715 | 339 | ||
Current lease liabilities | 514 | 462 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 0 | 0 | ||
Total allocated liabilities | 10,903 | 10,659 | ||
Operating segments | Telefónica Brazil | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 14,408 | 20,585 | ||
Rights of use | 1,677 | 1,933 | ||
Investments accounted for by the equity method | 1 | 2 | ||
Financial assets and other non-current assets | 700 | 1,159 | ||
Deferred tax assets | 248 | 337 | ||
Other current financial assets | 30 | 67 | ||
Non-current assets and disposal groups held for sale | 0 | 1 | ||
Total allocated assets | 20,023 | 28,120 | ||
Non-current financial liabilities | 167 | 572 | ||
Non-current lease liabilities | 1,342 | 1,582 | ||
Deferred tax liabilities | 864 | 945 | ||
Current financial liabilities | 224 | 464 | ||
Current lease liabilities | 297 | 448 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 0 | 0 | ||
Total allocated liabilities | 6,252 | 8,599 | ||
Operating segments | Telefónica Hispam | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 8,692 | 11,881 | ||
Rights of use | 1,117 | 1,382 | ||
Investments accounted for by the equity method | 58 | 73 | ||
Financial assets and other non-current assets | 773 | 764 | ||
Deferred tax assets | 721 | 755 | ||
Other current financial assets | 90 | 426 | ||
Non-current assets and disposal groups held for sale | 30 | 43 | ||
Total allocated assets | 14,973 | 20,553 | ||
Non-current financial liabilities | 6,149 | 2,666 | ||
Non-current lease liabilities | 1,095 | 1,298 | ||
Deferred tax liabilities | 481 | 572 | ||
Current financial liabilities | 1,157 | 901 | ||
Current lease liabilities | 365 | 248 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 0 | 0 | ||
Total allocated liabilities | 12,960 | 10,904 | ||
Operating segments | Telxius Group | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 452 | 1,145 | ||
Rights of use | 30 | 388 | ||
Investments accounted for by the equity method | 0 | 0 | ||
Financial assets and other non-current assets | 39 | 55 | ||
Deferred tax assets | 29 | 89 | ||
Other current financial assets | 3 | 1 | ||
Non-current assets and disposal groups held for sale | 2,062 | 0 | ||
Total allocated assets | 2,840 | 2,184 | ||
Non-current financial liabilities | 1,257 | 1,148 | ||
Non-current lease liabilities | 4 | 281 | ||
Deferred tax liabilities | 18 | 18 | ||
Current financial liabilities | 150 | 1 | ||
Current lease liabilities | 8 | 117 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 917 | 0 | ||
Total allocated liabilities | 2,785 | 2,250 | ||
Eliminations | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 0 | 0 | ||
Rights of use | (2,105) | (1,550) | ||
Investments accounted for by the equity method | 0 | 0 | ||
Financial assets and other non-current assets | (3,198) | (3,171) | ||
Deferred tax assets | 0 | 0 | ||
Other current financial assets | (7,917) | (3,089) | ||
Non-current assets and disposal groups held for sale | (361) | 0 | ||
Total allocated assets | (18,394) | (13,721) | ||
Non-current financial liabilities | (4,971) | (2,518) | ||
Non-current lease liabilities | (1,884) | (1,378) | ||
Deferred tax liabilities | 0 | 0 | ||
Current financial liabilities | (4,856) | (5,676) | ||
Current lease liabilities | (246) | (186) | ||
Liabilities associated with non-current assets and disposal groups held for sale | (1,244) | 0 | ||
Total allocated liabilities | (18,399) | (13,718) | ||
Telefonica, S.A. | ||||
Disclosure of operating segments [line items] | ||||
Property, plant and equipment | 52,301 | 73,665 | ||
Rights of use | 4,982 | 6,939 | ||
Investments accounted for by the equity method | 427 | 140 | ||
Financial assets and other non-current assets | 7,270 | 7,123 | ||
Deferred tax assets | 6,416 | 6,682 | ||
Other current financial assets | 2,495 | 3,123 | ||
Non-current assets and disposal groups held for sale | 15,413 | 818 | ||
Total allocated assets | 105,051 | 118,877 | ||
Non-current financial liabilities | 42,297 | 43,288 | ||
Non-current lease liabilities | 4,039 | 5,626 | ||
Deferred tax liabilities | 2,620 | 2,908 | ||
Current financial liabilities | 8,123 | 9,076 | ||
Current lease liabilities | 1,255 | 1,600 | ||
Liabilities associated with non-current assets and disposal groups held for sale | 4,791 | 380 | ||
Total allocated liabilities | € 86,791 | € 93,427 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Revenues | € 43,076 | € 48,422 | € 48,693 |
Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | (1,595) | (1,592) | (1,601) |
Geography Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 265 | 537 | 938 |
Others and elims. | Geography Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 265 | 537 | 938 |
Telefónica Spain | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,118 | 12,528 | 12,461 |
Telefónica Spain | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,401 | 12,850 | 12,788 |
Telefónica Spain | Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 283 | 322 | 327 |
Telefónica Spain | Retailer | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 9,906 | 10,313 | 10,341 |
Telefónica Spain | Wholesalers, mobile handsets sales and others | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,495 | 2,537 | 2,447 |
Telefónica United Kingdom | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,666 | 7,068 | 6,757 |
Telefónica United Kingdom | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,708 | 7,109 | 6,790 |
Telefónica United Kingdom | Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 42 | 41 | 33 |
Telefónica United Kingdom | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 232 | 218 | 214 |
Telefónica United Kingdom | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,476 | 6,891 | 6,576 |
Telefónica United Kingdom | Others and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Germany | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,500 | 7,364 | 7,281 |
Telefónica Germany | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,532 | 7,399 | 7,320 |
Telefónica Germany | Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 32 | 35 | 39 |
Telefónica Germany | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 785 | 741 | 767 |
Telefónica Germany | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,730 | 6,647 | 6,539 |
Telefónica Germany | Others and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 17 | 11 | 14 |
Telefónica Brazil | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,406 | 10,018 | 10,105 |
Telefónica Brazil | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,422 | 10,035 | 10,126 |
Telefónica Brazil | Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 16 | 17 | 21 |
Telefónica Brazil | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,531 | 3,537 | 3,754 |
Telefónica Brazil | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 4,891 | 6,498 | 6,372 |
Telefónica Brazil | Others and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Hispam | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,786 | 9,504 | 9,815 |
Telefónica Hispam | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,922 | 9,650 | 9,939 |
Telefónica Hispam | Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 136 | 146 | 124 |
Telefónica Hispam | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,836 | 3,435 | 3,468 |
Telefónica Hispam | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 5,070 | 6,210 | 6,471 |
Telefónica Hispam | Others and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 16 | 5 | 0 |
Telxius Group | |||
Disclosure of geographical areas [line items] | |||
Revenues | 322 | 360 | 334 |
Telxius Group | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 826 | 842 | 792 |
Telxius Group | Eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 504 | 482 | 458 |
Telxius Group | Others and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | € 826 | € 842 | € 792 |
Business Combinations and Acq_2
Business Combinations and Acquisitions of Non-Controlling Interests - Sale of Share Capital of Telxius (Details) - EUR (€) € / shares in Units, € in Millions | Jul. 27, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about business combination [line items] | ||||
Impact of transaction in equity attributable to equity holders | € 232 | |||
Increase (decrease) in equity through change in equity of equity holders | € 580 | € (507) | € 371 | |
Telxius Telecom, S.A. | ||||
Disclosure of detailed information about business combination [line items] | ||||
Proportion of ownership interest (as a percent) | 50.01% | |||
Telxius Telecom, S.A. | Pontegadea Group | ||||
Disclosure of detailed information about business combination [line items] | ||||
Proceeds from exchange of share capital | € 378.8 | |||
Transfer price per share (EUR per share) | € 15.2 | |||
Telefonica, S.A. | Telxius Telecom, S.A. | ||||
Disclosure of detailed information about business combination [line items] | ||||
Proportion of indirect participation (as a percent) | 9.99% | |||
Telefonica, S.A. | Telxius Telecom, S.A. | Pontegadea Group | ||||
Disclosure of detailed information about business combination [line items] | ||||
Proportion of voting equity transferred (as a percent) | 16.65% | |||
Pontel Participaciones, SL | Telxius Telecom, S.A. | ||||
Disclosure of detailed information about business combination [line items] | ||||
Proportion of ownership interest (as a percent) | 60.00% | |||
Non-controlling interests | ||||
Disclosure of detailed information about business combination [line items] | ||||
Increase (decrease) in equity through change in equity of equity holders | € 139 | € 318 | € (418) | € 139 |
Intangible Assets - Composition
Intangible Assets - Composition and Movements in Net Intangible Assets (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of changes in intangible assets other than goodwill [abstract] | |||
Beginning balance | € 16,034 | € 16,856 | |
Additions | 1,111 | 2,727 | |
Amortization | (2,735) | (3,248) | € (3,298) |
Disposals | (33) | (500) | |
Impairments | (108) | ||
Transfers and others | (1,255) | 291 | |
Translation differences and hyperinflation adjustments | (1,526) | 21 | |
Exclusion of companies | (113) | ||
Ending balance | 11,488 | 16,034 | 16,856 |
Total additions including additions corresponding to companies held for sale and sold companies | 1,266 | 2,733 | |
Service concession arrangements and licenses | |||
Reconciliation of changes in intangible assets other than goodwill [abstract] | |||
Beginning balance | 8,566 | 9,995 | |
Additions | 32 | 25 | |
Amortization | (1,001) | (1,227) | |
Disposals | (33) | (495) | |
Impairments | (106) | ||
Transfers and others | 151 | 333 | |
Translation differences and hyperinflation adjustments | (1,036) | 23 | |
Exclusion of companies | (88) | ||
Ending balance | 6,573 | 8,566 | 9,995 |
Software | |||
Reconciliation of changes in intangible assets other than goodwill [abstract] | |||
Beginning balance | 2,980 | 2,940 | |
Additions | 467 | 420 | |
Amortization | (1,305) | (1,464) | |
Disposals | 0 | (4) | |
Impairments | (2) | ||
Transfers and others | 542 | 1,113 | |
Translation differences and hyperinflation adjustments | (302) | (6) | |
Exclusion of companies | (19) | ||
Ending balance | 2,380 | 2,980 | 2,940 |
Customer base | |||
Reconciliation of changes in intangible assets other than goodwill [abstract] | |||
Beginning balance | 1,666 | 2,138 | |
Additions | 6 | 0 | |
Amortization | (372) | (478) | |
Disposals | 0 | 0 | |
Impairments | 0 | ||
Transfers and others | (4) | 9 | |
Translation differences and hyperinflation adjustments | (58) | (3) | |
Exclusion of companies | 0 | ||
Ending balance | 1,238 | 1,666 | 2,138 |
Trademarks | |||
Reconciliation of changes in intangible assets other than goodwill [abstract] | |||
Beginning balance | 640 | 690 | |
Additions | 0 | 0 | |
Amortization | (51) | (58) | |
Disposals | 0 | 0 | |
Impairments | 0 | ||
Transfers and others | (2) | 0 | |
Translation differences and hyperinflation adjustments | (75) | 8 | |
Exclusion of companies | 0 | ||
Ending balance | 512 | 640 | 690 |
Other intangible assets | |||
Reconciliation of changes in intangible assets other than goodwill [abstract] | |||
Beginning balance | 52 | 77 | |
Additions | 11 | 15 | |
Amortization | (6) | (21) | |
Disposals | 0 | 0 | |
Impairments | 0 | ||
Transfers and others | (2) | (18) | |
Translation differences and hyperinflation adjustments | (4) | (1) | |
Exclusion of companies | 0 | ||
Ending balance | 51 | 52 | 77 |
Intangible assets in process | |||
Reconciliation of changes in intangible assets other than goodwill [abstract] | |||
Beginning balance | 2,130 | 1,016 | |
Additions | 595 | 2,267 | |
Amortization | 0 | 0 | |
Disposals | 0 | (1) | |
Impairments | 0 | ||
Transfers and others | (1,940) | (1,146) | |
Translation differences and hyperinflation adjustments | (51) | 0 | |
Exclusion of companies | (6) | ||
Ending balance | € 734 | € 2,130 | € 1,016 |
Intangible Assets - Gross Cost,
Intangible Assets - Gross Cost, Accumulated Amortization and Impairment Losses of Intangible Assets (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | € 11,488 | € 16,034 | € 16,856 |
Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 30,902 | 49,509 | |
Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (19,313) | (33,471) | |
Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (101) | (4) | |
Service concession arrangements and licenses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 6,573 | 8,566 | 9,995 |
Service concession arrangements and licenses | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 7,062 | 20,414 | |
Service concession arrangements and licenses | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (399) | (11,848) | |
Service concession arrangements and licenses | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (90) | 0 | |
Software | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 2,380 | 2,980 | 2,940 |
Software | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 15,375 | 17,578 | |
Software | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (12,986) | (14,597) | |
Software | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (9) | (1) | |
Customer base | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 1,238 | 1,666 | 2,138 |
Customer base | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 5,071 | 6,544 | |
Customer base | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (3,833) | (4,878) | |
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 | 512 | 640 | 690 |
Trademarks | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 1,720 | 1,887 | |
Trademarks | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (1,207) | (1,247) | |
Trademarks | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (1) | 0 | |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 51 | 52 | 77 |
Other intangible assets | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 940 | 956 | |
Other intangible assets | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (888) | (901) | |
Other intangible assets | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (1) | (3) | |
Intangible assets in process | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 734 | 2,130 | € 1,016 |
Intangible assets in process | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 734 | 2,130 | |
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 | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2019EUR (€) | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Aug. 31, 2019unpaired_frequency_block | |
Disclosure of detailed information about intangible assets [line items] | ||||
Transfers and others | € (1,255) | € 291 | ||
Additions | 1,111 | 2,727 | ||
Impairment of intangible assets | 108 | |||
Service concession arrangements and licenses | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Additions related to companies held-for-sale | 126 | 1,501 | ||
Transfers and others | 151 | 333 | ||
Additions | 32 | 25 | ||
Impairment of intangible assets | 106 | |||
Service concession arrangements and licenses | Telefónica Germany | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Additions | € 1,425 | |||
Number of unpaired 3.6 GHz frequency blocks of 10MHz Each | unpaired_frequency_block | 7 | |||
Telefónica Germany | Service concession arrangements and licenses | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Transfers and others | 1,381 | |||
Telefonica Uruguay | Service concession arrangements and licenses | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Additions | 26 | |||
Telefónica Argentina | Service concession arrangements and licenses | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment of intangible assets | 106 | |||
Impairments of intagnible assets | 106 | |||
Telefónica United Kingdom | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Transfers and others | 1,513 | |||
Telxius Telecom, S.A. | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Transfers and others | 36 | |||
Telefónica Moviles El Salvador | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Transfers and others | € 34 | |||
Telefonica Moviles Costa Rica and Telefonica Moviles El Salvador | Service concession arrangements and licenses | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Transfers and others | 65 | |||
Telefonía Celular de Nicaragua, S.A. | Service concession arrangements and licenses | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Exclusion of companies | 12 | |||
Telefónica Móviles Panamá, S.A. | Service concession arrangements and licenses | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Exclusion of companies | € 100 |
Goodwill - Reconciliation of Go
Goodwill - Reconciliation of Goodwill by Group Segment (Details) - Goodwill - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | € 25,403 | € 25,748 |
Disposals | (178) | |
Additions | 5 | 6 |
Write-offs | (519) | (206) |
Transfers | (4,950) | |
Exchange rate impact | (2,895) | 33 |
Ending balance | 17,044 | 25,403 |
Telefónica Spain | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 4,299 | 4,310 |
Disposals | (11) | |
Additions | 0 | 0 |
Write-offs | 0 | 0 |
Transfers | 0 | |
Exchange rate impact | 0 | 0 |
Ending balance | 4,299 | 4,299 |
Telefónica Brazil | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 8,814 | 8,991 |
Disposals | (1) | |
Additions | 0 | 0 |
Write-offs | 0 | 0 |
Transfers | 0 | |
Exchange rate impact | (2,556) | (176) |
Ending balance | 6,258 | 8,814 |
Telefónica Germany | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 4,819 | 4,815 |
Disposals | 0 | |
Additions | 0 | 4 |
Write-offs | 0 | 0 |
Transfers | (261) | |
Exchange rate impact | 0 | 0 |
Ending balance | 4,558 | 4,819 |
Telefónica United Kingdom | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 4,847 | 4,611 |
Disposals | 0 | |
Additions | 0 | 0 |
Write-offs | 0 | 0 |
Transfers | (4,750) | |
Exchange rate impact | (97) | 236 |
Ending balance | 0 | 4,847 |
Telefónica Hispam | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 2,530 | 2,785 |
Disposals | (22) | |
Additions | 0 | 0 |
Write-offs | (519) | (206) |
Transfers | 0 | |
Exchange rate impact | (233) | (27) |
Ending balance | 1,778 | 2,530 |
Telxius Group | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 2 | 2 |
Disposals | 0 | |
Additions | 0 | 0 |
Write-offs | 0 | 0 |
Transfers | (2) | |
Exchange rate impact | 0 | 0 |
Ending balance | 0 | 2 |
Other companies | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 92 | 234 |
Disposals | (144) | |
Additions | 5 | 2 |
Write-offs | 0 | 0 |
Transfers | 63 | |
Exchange rate impact | (9) | 0 |
Ending balance | € 151 | € 92 |
Goodwill - Narrative (Details)
Goodwill - Narrative (Details) € in Millions | Jun. 08, 2020EUR (€)site | Sep. 01, 2020 | Aug. 31, 2021 | Aug. 31, 2021 | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2022 |
Disclosure of detailed information about intangible assets [line items] | |||||||
Economic impact of COVID 19, base outlook percentage | 60.00% | ||||||
Economic impact of COVID 19, pessimistic outlook percentage | 30.00% | ||||||
Economic impact of COVID 19, optimistic outlook percentage | 10.00% | ||||||
OIBDA margin (as a percent) | 26.00% | ||||||
Long-term capital expenditure (CapEx) ratio (as a percent) | 10.00% | ||||||
Goodwill | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Increase (decrease) through transfers, goodwill | € (4,950) | ||||||
Increase (decrease) through net exchange differences, goodwill | (2,895) | € 33 | |||||
Impairment loss | 519 | 206 | |||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | 519 | 206 | |||||
Disposals, intangible assets and goodwill | € 178 | ||||||
Telefónica Germany GmbH & Co. OHG | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Number of sites transferred | site | 10,100 | ||||||
Proceeds from transfer of sites | € 1,500 | ||||||
Proportion of sites transferred (as a percent) | 60.00% | ||||||
Telefónica Germany GmbH & Co. OHG | Other disposals of assets | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Proportion of sites to be transferred (as a percent) | 40.00% | 40.00% | |||||
Telefonica Germany Mobilfunk Standortgesellschaft mbH | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Number of sites owned | site | 6,000 | ||||||
Telefónica Peru | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Long-term capital expenditure (CapEx) ratio (as a percent) | 11.00% | ||||||
Telefónica Argentina | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Impairment loss | € 206 | ||||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 206 | ||||||
Impairment loss recognised in profit or loss, property, plant and equipment | 269 | ||||||
Telefónica Argentina | Goodwill | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Impairment loss | 519 | ||||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | 519 | ||||||
Telefónica Argentina | Intangible assets other than goodwill | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Impairment loss | 106 | ||||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 106 | ||||||
Telefónica Spain | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Long-term capital expenditure (CapEx) ratio (as a percent) | 12.00% | ||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 0.80% | 1.00% | |||||
Telefónica Spain | Goodwill | Operating segments | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Increase (decrease) through transfers, goodwill | € 0 | ||||||
Increase (decrease) through net exchange differences, goodwill | 0 | € 0 | |||||
Impairment loss | 0 | 0 | |||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 0 | 0 | |||||
Disposals, intangible assets and goodwill | € 11 | ||||||
Telefónica Germany and Telefónica United Kingdom | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Long-term capital expenditure (CapEx) ratio (as a percent) | 14.00% | ||||||
Telefónica Germany | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 1.00% | 1.10% | |||||
Telefónica Germany | Goodwill | Operating segments | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Increase (decrease) through transfers, goodwill | € (261) | ||||||
Increase (decrease) through net exchange differences, goodwill | 0 | € 0 | |||||
Impairment loss | 0 | 0 | |||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 0 | 0 | |||||
Disposals, intangible assets and goodwill | € 0 | ||||||
Telefónica United Kingdom | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 0.80% | 0.80% | |||||
Telefónica United Kingdom | Goodwill | Operating segments | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Increase (decrease) through transfers, goodwill | € (4,750) | ||||||
Increase (decrease) through net exchange differences, goodwill | (97) | € 236 | |||||
Impairment loss | 0 | 0 | |||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 0 | 0 | |||||
Disposals, intangible assets and goodwill | € 0 | ||||||
Telefónica Brazil | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Long-term capital expenditure (CapEx) ratio (as a percent) | 16.00% | ||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 4.50% | 4.50% | |||||
Telefónica Brazil | Goodwill | Operating segments | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Increase (decrease) through transfers, goodwill | € 0 | ||||||
Increase (decrease) through net exchange differences, goodwill | (2,556) | € (176) | |||||
Impairment loss | 0 | 0 | |||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | € 0 | 0 | |||||
Disposals, intangible assets and goodwill | € 1 | ||||||
Telefónica Brazil | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 1.80% | ||||||
Telefónica Brazil | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 4.80% | ||||||
Perpetuity growth rates | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 23.00% | ||||||
Perpetuity growth rates | Telefónica Europe | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Growth rate used to extrapolate cash flow projections (as a percent) | 1.00% | ||||||
Perpetuity growth rates | Telefónica Spain | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (0.375%) | ||||||
Perpetuity growth rates | Telefónica Spain | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 0.375% | ||||||
Perpetuity growth rates | Telefónica Germany | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (0.375%) | ||||||
Perpetuity growth rates | Telefónica Germany | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 0.375% | ||||||
Perpetuity growth rates | Telefónica United Kingdom | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (0.375%) | ||||||
Perpetuity growth rates | Telefónica United Kingdom | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 0.375% | ||||||
Perpetuity growth rates | Telefónica Brazil | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (0.75%) | ||||||
Perpetuity growth rates | Telefónica Brazil | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 0.75% | ||||||
Weighted Average Cost of Capital (WACC) | Telefónica Peru | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 2.80% | 8.70% | |||||
Terminal Growth Rate | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 10.00% | ||||||
Terminal Growth Rate | Telefónica Peru | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (3.80%) | 2.40% | |||||
OIBDA Margin | Telefónica Peru | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (7.10%) | 30.00% | |||||
OIBDA Margin | Telefónica Spain | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (2.625%) | ||||||
OIBDA Margin | Telefónica Spain | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 2.625% | ||||||
OIBDA Margin | Telefónica Germany | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (2.625%) | ||||||
OIBDA Margin | Telefónica Germany | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 2.625% | ||||||
OIBDA Margin | Telefónica United Kingdom | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (2.25%) | ||||||
OIBDA Margin | Telefónica United Kingdom | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 2.25% | ||||||
OIBDA Margin | Telefónica Brazil | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | (3.00%) | ||||||
OIBDA Margin | Telefónica Brazil | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 3.00% | ||||||
Investment/Sales Ratio | Telefónica Peru | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Change in key assumption rate (as a percent) | 5.00% | ||||||
Forecast | Telefónica Spain | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 39.00% | ||||||
Forecast | Telefónica Spain | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 43.00% | ||||||
Forecast | Telefónica Germany | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 31.00% | ||||||
Forecast | Telefónica Germany | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 33.00% | ||||||
Forecast | Telefónica United Kingdom | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 29.00% | ||||||
Forecast | Telefónica United Kingdom | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 34.00% | ||||||
Forecast | Telefónica Brazil | Minimum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 41.00% | ||||||
Forecast | Telefónica Brazil | Maximum | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
OIBDA margin (as a percent) | 45.00% | ||||||
Telefónica Argentina | |||||||
Disclosure of detailed information about intangible assets [line items] | |||||||
Reversal of deferred tax liabilities associated with hyperinflation | € 94 |
Goodwill - Allocation of Goodwi
Goodwill - Allocation of Goodwill to Cash-Generating Units (Details) - Goodwill - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | € 17,044 | € 25,403 | € 25,748 |
Telefónica Spain | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 4,299 | 4,299 | 4,310 |
Telefónica Brazil | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 6,258 | 8,814 | 8,991 |
Telefónica Germany | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 4,558 | 4,819 | 4,815 |
Telefónica United Kingdom | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 0 | 4,847 | 4,611 |
Telefónica Hispam | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 1,778 | 2,530 | 2,785 |
Telefónica Hispam | Operating segments | Colombia | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 170 | 195 | |
Telefónica Hispam | Operating segments | Ecuador | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 119 | 130 | |
Telefónica Hispam | Operating segments | Chile | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 826 | 856 | |
Telefónica Hispam | Operating segments | Peru | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 642 | 766 | |
Telefónica Hispam | Operating segments | Argentina | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 0 | 557 | |
Telefónica Hispam | Operating segments | Uruguay | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 19 | 24 | |
Telefónica Hispam | Operating segments | Other T. Hispam | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 2 | 2 | |
Telxius Group | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 0 | 2 | 2 |
Other companies | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | € 151 | € 92 | € 234 |
Goodwill - After-Tax Discount R
Goodwill - After-Tax Discount Rates Applied to the Cash Flow Projections (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Telefónica Spain | ||
Disclosure of detailed information about intangible assets [line items] | ||
Before-tax discount rates applied to cash flow projections (as a percent) | 8.40% | 8.20% |
After-tax discount rates applied to cash flow projections (as a percent) | 6.50% | 6.20% |
Telefónica Brazil | ||
Disclosure of detailed information about intangible assets [line items] | ||
Before-tax discount rates applied to cash flow projections (as a percent) | 13.60% | 12.60% |
After-tax discount rates applied to cash flow projections (as a percent) | 11.10% | 10.00% |
Telefónica United Kingdom | ||
Disclosure of detailed information about intangible assets [line items] | ||
Before-tax discount rates applied to cash flow projections (as a percent) | 7.30% | 7.80% |
After-tax discount rates applied to cash flow projections (as a percent) | 6.10% | 6.20% |
Telefónica Germany | ||
Disclosure of detailed information about intangible assets [line items] | ||
Before-tax discount rates applied to cash flow projections (as a percent) | 6.50% | 7.80% |
After-tax discount rates applied to cash flow projections (as a percent) | 4.80% | 4.90% |
Goodwill - Perpetuity Growth Ra
Goodwill - Perpetuity Growth Rate Applied to Cash Flow Projections (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Telefónica Spain | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections (as a percent) | 0.80% | 1.00% |
Telefónica Brazil | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections (as a percent) | 4.50% | 4.50% |
Telefónica United Kingdom | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections (as a percent) | 0.80% | 0.80% |
Telefónica Germany | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections (as a percent) | 1.00% | 1.10% |
Goodwill - Sensitivity to Chang
Goodwill - Sensitivity to Changes in Assumptions (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Terminal Growth Rate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 10.00% | |
Telefónica Argentina | ||
Disclosure of detailed information about intangible assets [line items] | ||
Impairment loss | € 519 | € 206 |
Telefónica Spain | Discount rate | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (0.75%) | |
Telefónica Spain | Discount rate | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 0.75% | |
Telefónica Spain | Perpetuity growth rates | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (0.375%) | |
Telefónica Spain | Perpetuity growth rates | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 0.375% | |
Telefónica Spain | OIBDA Margin | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (2.625%) | |
Telefónica Spain | OIBDA Margin | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 2.625% | |
Telefónica Spain | Ratio of CapEx/Revenues | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (1.31%) | |
Telefónica Spain | Ratio of CapEx/Revenues | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 1.31% | |
Telefónica Germany | Discount rate | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (0.75%) | |
Telefónica Germany | Discount rate | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 0.75% | |
Telefónica Germany | Perpetuity growth rates | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (0.375%) | |
Telefónica Germany | Perpetuity growth rates | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 0.375% | |
Telefónica Germany | OIBDA Margin | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (2.625%) | |
Telefónica Germany | OIBDA Margin | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 2.625% | |
Telefónica Germany | Ratio of CapEx/Revenues | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (1.31%) | |
Telefónica Germany | Ratio of CapEx/Revenues | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 1.31% | |
Telefónica United Kingdom | Discount rate | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (0.75%) | |
Telefónica United Kingdom | Discount rate | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 0.75% | |
Telefónica United Kingdom | Perpetuity growth rates | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (0.375%) | |
Telefónica United Kingdom | Perpetuity growth rates | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 0.375% | |
Telefónica United Kingdom | OIBDA Margin | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (2.25%) | |
Telefónica United Kingdom | OIBDA Margin | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 2.25% | |
Telefónica United Kingdom | Ratio of CapEx/Revenues | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (1.13%) | |
Telefónica United Kingdom | Ratio of CapEx/Revenues | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 1.13% | |
Telefónica Brazil | Discount rate | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (1.50%) | |
Telefónica Brazil | Discount rate | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 1.50% | |
Telefónica Brazil | Perpetuity growth rates | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (0.75%) | |
Telefónica Brazil | Perpetuity growth rates | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 0.75% | |
Telefónica Brazil | OIBDA Margin | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (3.00%) | |
Telefónica Brazil | OIBDA Margin | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 3.00% | |
Telefónica Brazil | Ratio of CapEx/Revenues | Minimum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | (1.50%) | |
Telefónica Brazil | Ratio of CapEx/Revenues | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Change in key assumption rate (as a percent) | 1.50% |
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, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | € 32,228 | € 33,295 |
First application of IFRS 16 | (249) | |
Additions | 4,091 | 5,992 |
Depreciation | (5,022) | (5,613) |
Disposals | (99) | (266) |
Impairments | (275) | |
Transfers and others | (4,039) | (410) |
Translation differences and hyperinflation adjustments | (3,115) | (89) |
Exclusion of companies | (432) | |
Property, plant and equipment at end of period | 23,769 | 32,228 |
Total additions of property, plant and equipment | 4,595 | 6,051 |
Land and buildings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 3,603 | 4,310 |
First application of IFRS 16 | (9) | |
Additions | 33 | 37 |
Depreciation | (325) | (334) |
Disposals | (6) | (227) |
Impairments | 1 | |
Transfers and others | (248) | 61 |
Translation differences and hyperinflation adjustments | (229) | (56) |
Exclusion of companies | (179) | |
Property, plant and equipment at end of period | 2,829 | 3,603 |
Plant and machinery | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 25,006 | 25,346 |
First application of IFRS 16 | (107) | |
Additions | 981 | 1,258 |
Depreciation | (4,387) | (4,845) |
Disposals | (85) | (33) |
Impairments | (271) | |
Transfers and others | (59) | 3,638 |
Translation differences and hyperinflation adjustments | (2,509) | (58) |
Exclusion of companies | (193) | |
Property, plant and equipment at end of period | 18,676 | 25,006 |
Furniture, tools and other items | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 1,248 | 1,201 |
First application of IFRS 16 | (133) | |
Additions | 93 | 129 |
Depreciation | (310) | (434) |
Disposals | (3) | (4) |
Impairments | (2) | |
Transfers and others | (287) | 503 |
Translation differences and hyperinflation adjustments | (116) | 7 |
Exclusion of companies | (21) | |
Property, plant and equipment at end of period | 623 | 1,248 |
PP&E in progress | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 2,371 | 2,438 |
First application of IFRS 16 | 0 | |
Additions | 2,984 | 4,568 |
Depreciation | 0 | 0 |
Disposals | (5) | (2) |
Impairments | (3) | |
Transfers and others | (3,445) | (4,612) |
Translation differences and hyperinflation adjustments | (261) | 18 |
Exclusion of companies | (39) | |
Property, plant and equipment at end of period | € 1,641 | € 2,371 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Narrative (Details) € in Millions, premise in Millions | 12 Months Ended | |
Dec. 31, 2020EUR (€)premise | Dec. 31, 2019EUR (€) | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total additions of property, plant and equipment | € 4,595 | € 6,051 |
Investments in property, plant and equipment | 4,091 | 5,992 |
Impairment loss recognised in other comprehensive income, property, plant and equipment | 275 | |
Transfers and others | (4,039) | (410) |
First application of IFRS 16 | (249) | |
Exclusion of companies | (432) | |
Telefónica Spain | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investments in property, plant and equipment | € 1,135 | 1,390 |
Number of premises covered by fiber optic roll out | premise | 25 | |
Telefónica United Kingdom | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investments in property, plant and equipment | € 737 | 779 |
Portion of additions until date of reclassification to held-for-sale | € 253 | |
Percent of population coverage by LTE networks | 99.00% | |
Transfers and others | € 3,290 | |
Telefónica Germany | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investments in property, plant and equipment | € 814 | 807 |
Percent of population coverage by LTE networks | 99.60% | |
Telefónica Brazil | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investments in property, plant and equipment | € 1,048 | 1,605 |
Telefónica Hispam | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investments in property, plant and equipment | 684 | 1,283 |
Telxius Group | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investments in property, plant and equipment | 123 | 101 |
Intra-group investment in property, plant and equipment | 161 | 244 |
Transfers and others | 766 | |
Telefónica México | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Increase (decrease) in depreciation, property, plant and equipment | 204 | 23 |
Telefónica Argentina | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment loss recognised in other comprehensive income, property, plant and equipment | 269 | |
Telefónica Moviles El Salvador | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Transfers and others | € 124 | |
Telefonica Moviles Costa Rica | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Transfers and others | 78 | |
Telefonía Celular de Nicaragua, S.A. | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Exclusion of companies | 103 | |
Telefónica Móviles Panamá, S.A. | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Exclusion of companies | 95 | |
Data Centers | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Exclusion of companies | € 227 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Gross Cost, Accumulated Depreciation and Impairment Losses of Property, Plant and Equipment (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | € 23,769 | € 32,228 | € 33,295 |
Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 100,192 | 121,259 | |
Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (76,088) | (88,949) | |
Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (335) | (82) | |
Land and buildings | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 2,829 | 3,603 | 4,310 |
Land and buildings | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 8,735 | 10,588 | |
Land and buildings | Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (5,861) | (6,975) | |
Land and buildings | Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (45) | (10) | |
Plant and machinery | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 18,676 | 25,006 | 25,346 |
Plant and machinery | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 85,230 | 101,249 | |
Plant and machinery | Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (66,289) | (76,186) | |
Plant and machinery | Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (265) | (57) | |
Furniture, tools and other items | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 623 | 1,248 | 1,201 |
Furniture, tools and other items | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 4,573 | 7,041 | |
Furniture, tools and other items | Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (3,938) | (5,788) | |
Furniture, tools and other items | Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (12) | (5) | |
PP&E in progress | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 1,641 | 2,371 | € 2,438 |
PP&E in progress | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 1,654 | 2,381 | |
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 | € (13) | € (10) |
Rights of Use - Movements of Ri
Rights of Use - Movements of Rights of Use (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Movement of Right-of-Use Assets [Roll Forward] | ||
Right-of-use assets at beginning of period | € 6,939 | € 0 |
First application impacts due to accounting changes NIIF 16 | 7,870 | |
Additions | 1,916 | 1,284 |
Amortization | (1,602) | (1,721) |
Disposals | (374) | (269) |
Exclusion of companies | (121) | |
Translation differences and hyperinflation, right-of-use assets | (1,169) | (134) |
Transfers and others | (728) | 30 |
Right-of-use assets at end of period | 4,982 | 6,939 |
Additions to right-of-use assets including companies held for sale and the sale of companies | 2,014 | 1,292 |
Land and Natural Properties | ||
Movement of Right-of-Use Assets [Roll Forward] | ||
Right-of-use assets at beginning of period | 1,514 | 0 |
First application impacts due to accounting changes NIIF 16 | 1,622 | |
Additions | 580 | 334 |
Amortization | (481) | (385) |
Disposals | (197) | (61) |
Exclusion of companies | (6) | |
Translation differences and hyperinflation, right-of-use assets | (581) | (3) |
Transfers and others | (73) | 13 |
Right-of-use assets at end of period | 762 | 1,514 |
Buildings | ||
Movement of Right-of-Use Assets [Roll Forward] | ||
Right-of-use assets at beginning of period | 3,793 | 0 |
First application impacts due to accounting changes NIIF 16 | 4,361 | |
Additions | 957 | 697 |
Amortization | (760) | (904) |
Disposals | (121) | (136) |
Exclusion of companies | (109) | |
Translation differences and hyperinflation, right-of-use assets | (435) | (123) |
Transfers and others | (615) | 7 |
Right-of-use assets at end of period | 2,819 | 3,793 |
Plant and Machinery | ||
Movement of Right-of-Use Assets [Roll Forward] | ||
Right-of-use assets at beginning of period | 1,434 | 0 |
First application impacts due to accounting changes NIIF 16 | 1,676 | |
Additions | 342 | 206 |
Amortization | (299) | (373) |
Disposals | (51) | (70) |
Exclusion of companies | (6) | |
Translation differences and hyperinflation, right-of-use assets | (153) | (7) |
Transfers and others | (35) | 8 |
Right-of-use assets at end of period | 1,238 | 1,434 |
Other assets | ||
Movement of Right-of-Use Assets [Roll Forward] | ||
Right-of-use assets at beginning of period | 198 | 0 |
First application impacts due to accounting changes NIIF 16 | 211 | |
Additions | 37 | 47 |
Amortization | (62) | (59) |
Disposals | (5) | (2) |
Exclusion of companies | 0 | |
Translation differences and hyperinflation, right-of-use assets | 0 | (1) |
Transfers and others | (5) | 2 |
Right-of-use assets at end of period | € 163 | € 198 |
Rights of Use - Narrative (Deta
Rights of Use - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Transfers and others | € (728) | € 30 |
Exclusion of companies | 121 | |
Telefónica de Costa Rica TC, S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Transfers and others | 127 | |
Telefonía Celular de Nicaragua, S.A. | Telefonía Celular de Nicaragua, S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Exclusion of companies | 74 | |
Telefónica Móviles Panamá, S.A. | Telefónica Móviles Panamá, S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Exclusion of companies | 47 | |
Telefónica México | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Increase (decrease) in amortization, right-of-use assets | 110 | € 13 |
Telefónica United Kingdom | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Transfers and others | 645 | |
Telxius Group | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Transfers and others | € 555 |
Rights of Use - Gross Costs, Ac
Rights of Use - Gross Costs, Accumulated Depreciation, and Impairment Losses of Rights of Use (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | € 4,982 | € 6,939 | € 7,870 | € 0 |
Land and Natural Properties | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 762 | 1,514 | 0 | |
Buildings | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 2,819 | 3,793 | 0 | |
Plant and Machinery | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 1,238 | 1,434 | 0 | |
Other assets | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 163 | 198 | € 0 | |
Gross cost | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 7,482 | 8,739 | ||
Gross cost | Land and Natural Properties | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 1,326 | 1,890 | ||
Gross cost | Buildings | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 4,107 | 4,722 | ||
Gross cost | Plant and Machinery | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 1,740 | 1,822 | ||
Gross cost | Other assets | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | 309 | 305 | ||
Accumulated depreciation | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | (2,500) | (1,800) | ||
Accumulated depreciation | Land and Natural Properties | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | (564) | (376) | ||
Accumulated depreciation | Buildings | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | (1,288) | (929) | ||
Accumulated depreciation | Plant and Machinery | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | (502) | (388) | ||
Accumulated depreciation | Other assets | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Rights of use | € (146) | € (107) |
Rights of Use - Expenses Relate
Rights of Use - Expenses Related to Leases included in Operating Results and Income from Subleasing Right-of-Use Assets (Details) - EUR (€) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Rights of Use [Abstract] | ||
Short-term leases included in operating results as supplies | € 47,000,000 | € 115,000,000 |
Variable lease payments not included in the measurement of leases liabilities | 15,000,000 | 0 |
Total expenses as supplies | 62,000,000 | 115,000,000 |
Short-term leases included in external services | 60,000,000 | 108,000,000 |
Leases of low-value assets included in external services | 7,000,000 | 13,000,000 |
Variable lease payments not included in the measurement of leases liabilities | 22,000,000 | 2,000,000 |
Total expenses as external services (Note 26) | 89,000,000 | 123,000,000 |
Total lease expenses | € 151,000,000 | € 238,000,000 |
Associates and Joint Ventures -
Associates and Joint Ventures - Summary (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Joint Ventures And Associates [Line Items] | |||
Investments accounted for by the equity method | € 427 | € 140 | |
Receivables from associates and joint ventures for current operations (Note 14) | 25 | 37 | |
Payables to associates and joint ventures (Note 22) | 11 | 634 | |
Revenue from operations with associates and joint ventures | 43,076 | 48,422 | € 48,693 |
Financial revenues with associates and joint ventures | 677 | 842 | 1,458 |
Financial expenses with associates and joint ventures | 2,417 | 2,795 | 2,690 |
Associates and Joint Ventures | |||
Disclosure Of Joint Ventures And Associates [Line Items] | |||
Investments accounted for by the equity method | 427 | 140 | 68 |
Long-term credits to associates and joint ventures | 1 | 0 | |
Receivables from associates and joint ventures for current operations (Note 14) | 25 | 37 | |
Payables to associates and joint ventures (Note 22) | 11 | 634 | |
Share of income (loss) of investments accounted for by the equity method | 2 | 13 | 4 |
Revenue from operations with associates and joint ventures | 268 | 265 | 233 |
Expenses from operations with associates and joint ventures | 39 | 30 | 14 |
Financial revenues with associates and joint ventures | 0 | 0 | 1 |
Financial expenses with associates and joint ventures | 0 | € 1 | € 0 |
Share Of Profit (Loss) From Continuing Operations Of Associates And Joint Ventures Accounted For Using Equity Method Including Held For Sale Investments | € 1 |
Associates and Joint Ventures_2
Associates and Joint Ventures - Equity Method Investment of Associates (Details) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of associates [line items] | |||||
Investments accounted for by the equity method at period start | € 140 | ||||
Translation differences and other comprehensive income (loss) | (7,236) | € (162) | [1] | € (3,401) | [1] |
Investments accounted for by the equity method at period end | 427 | 140 | |||
Investments accounted for by the equity method | 140 | 140 | |||
Associates and Joint Ventures | |||||
Disclosure of associates [line items] | |||||
Investments accounted for by the equity method at period start | 140 | 68 | |||
Additions | 269 | ||||
Disposals | (2) | ||||
Translation differences and other comprehensive income (loss) | (14) | ||||
Income (loss) | 2 | 13 | 4 | ||
Dividends | (12) | (13) | |||
Transfers and others | 45 | 72 | |||
Investments accounted for by the equity method at period end | 427 | 140 | 68 | ||
Investments accounted for by the equity method | 140 | 140 | € 68 | ||
Associates and Joint Ventures | Others | |||||
Disclosure of associates [line items] | |||||
Investments accounted for by the equity method at period start | 68 | ||||
Investments accounted for by the equity method at period end | 104 | 68 | |||
Investments accounted for by the equity method | € 68 | € 68 | |||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, |
Associates and Joint Ventures_3
Associates and Joint Ventures - Narrative (Details) - Prosegur Alarmas España, S.L. - EUR (€) € in Millions | Feb. 28, 2020 | Dec. 31, 2020 |
Disclosure Of Joint Ventures And Associates [Line Items] | ||
Investments accounted for by the equity method | € 0 | |
Associates and Joint Ventures | ||
Disclosure Of Joint Ventures And Associates [Line Items] | ||
Proportion of ownership interest in equity method investment | 50.00% | |
Number of shares issued for equity method investment (in shares) | 49,545,262 | |
Investments accounted for by the equity method | € 266 |
Associates and Joint Ventures_4
Associates and Joint Ventures - Breakdown of Key Financial Highlights (Details) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Disclosure Of Joint Ventures And Associates [Line Items] | ||||||
Assets | € 105,051 | € 118,877 | ||||
Purchase price allocation | ||||||
Group’s share in equity | 18,260 | 25,450 | € 26,996 | € 26,980 | € 29,229 | € 26,618 |
Goodwill | 17,044 | 25,403 | ||||
Carrying amount in the Telefónica Group | 427 | 140 | ||||
Associates and Joint Ventures | ||||||
Purchase price allocation | ||||||
Carrying amount in the Telefónica Group | 427 | 140 | € 68 | |||
Prosegur Alarmas España, S.L. | Associates and Joint Ventures | ||||||
Disclosure Of Joint Ventures And Associates [Line Items] | ||||||
Assets | 149 | |||||
Liabilities | 128 | |||||
Net assets | 21 | |||||
Purchase price allocation | ||||||
Assets | 156 | |||||
Liabilities | 39 | |||||
Net assets | € 117 | |||||
% Holding | 50.00% | |||||
Group’s share in equity | € 69 | |||||
Goodwill | 196 | |||||
Carrying amount in the Telefónica Group | 265 | 0 | ||||
Internet para Todos S.A.C. | Associates and Joint Ventures | ||||||
Disclosure Of Joint Ventures And Associates [Line Items] | ||||||
Assets | 117 | |||||
Liabilities | 11 | |||||
Net assets | 106 | |||||
Purchase price allocation | ||||||
Assets | 0 | |||||
Liabilities | 0 | |||||
Net assets | € 0 | |||||
% Holding | 54.70% | |||||
Group’s share in equity | € 58 | |||||
Goodwill | 0 | |||||
Carrying amount in the Telefónica Group | € 58 | € 72 |
Related Parties - Narrative (De
Related Parties - Narrative (Details) - EUR (€) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | ||
Unearned premiums | € 2,654,581 | € 1,969,090 |
Blackrock inc. | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 4.96% | |
BBVA | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 4.70% | |
Caixabank | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 4.68% | |
BBVA | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 0.66% | 0.66% |
Collateral guarantees on derivatives | € 148,000,000 | € 169,000,000 |
Receipt of services | 6,000,000 | 8,000,000 |
Caixabank | ||
Disclosure of transactions between related parties [line items] | ||
Collateral guarantees on derivatives | 89,000,000 | 91,000,000 |
Receipt of services | 15,000,000 | 8,000,000 |
Global Dominion Access Group | ||
Disclosure of transactions between related parties [line items] | ||
Receipt of services | € 11,000,000 | 27,000,000 |
Big Data Services | Telefónica Digital España, S.L. | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 45.00% | |
Big Data Services | China Unicom Big Data Limited Corporation | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 55.00% | |
Big Data Services | Suqian Xindongtend Business Service, Co. | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 16.67% | |
Big Data Services | Telefonica, S.A. | ||
Disclosure of transactions between related parties [line items] | ||
Significant shareholder stake of the Company (as a percent) | 37.50% | |
Derivative instruments | BBVA | ||
Disclosure of transactions between related parties [line items] | ||
Nominal amount of hedging instrument | € 10,537,000,000 | 14,553,000,000 |
Derivative fair value | 201,000,000 | 491,000,000 |
Collateral guarantees on derivatives | 164,000,000 | 276,000,000 |
Derivative instruments | Caixabank | ||
Disclosure of transactions between related parties [line items] | ||
Nominal amount of hedging instrument | 542,000,000 | 557,000,000 |
Derivative fair value | 11,000,000 | (2,000,000) |
Collateral guarantees on derivatives | € 10,000,000 | € 19,000,000 |
Related Parties - Summary of Si
Related Parties - Summary of Significant Transactions (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
BBVA | ||
Disclosure of transactions between related parties [line items] | ||
Finance costs | € 15 | € 32 |
Receipt of services | 6 | 8 |
Purchase of goods | 0 | 0 |
Other expenses | 4 | 4 |
Total costs | 25 | 44 |
Finance income | 20 | 27 |
Dividends received | 7 | 11 |
Services rendered | 21 | 13 |
Sale of goods | 10 | 9 |
Other income | 4 | 1 |
Total revenues | 62 | 61 |
Purchase of assets | 0 | |
Purchase of goods | 0 | |
Finance arrangements: loans, capital contributions and others (borrower) | 318 | 568 |
Finance arrangements: loans and capital contributions (lessee) | 0 | 0 |
Guarantees | 148 | 169 |
Commitments | 0 | 0 |
Finance arrangements: loans and capital contributions (lender) | 294 | 608 |
Dividends paid | 125 | 121 |
Factoring operations | € 0 | € 904 |
Significant shareholder stake of the Company (as a percent) | 0.66% | 0.66% |
Caixabank | ||
Disclosure of transactions between related parties [line items] | ||
Finance costs | € 3 | € 7 |
Receipt of services | 15 | 8 |
Purchase of goods | 60 | 62 |
Other expenses | 0 | 0 |
Total costs | 78 | 77 |
Finance income | 0 | 0 |
Services rendered | 53 | 63 |
Sale of goods | 52 | 49 |
Other income | 0 | 0 |
Total revenues | 105 | 112 |
Purchase of assets | 2 | |
Purchase of goods | 4 | |
Finance arrangements: loans, capital contributions and others (borrower) | 25 | 116 |
Finance arrangements: loans and capital contributions (lessee) | 2 | 5 |
Guarantees | 89 | 91 |
Commitments | 104 | 89 |
Finance arrangements: loans and capital contributions (lender) | 273 | 675 |
Dividends paid | 126 | 108 |
Factoring operations | € 477 | € 0 |
Financial Assets and Other No_3
Financial Assets and Other Non-current Assets - Breakdown of Assets (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | |||
Non-current financial assets | € 6,639 | € 6,392 | |
Other non-current assets | 631 | 731 | |
Contractual assets (Note 23) | 145 | 138 | |
Deferred expenses (Note 23) | 331 | 221 | |
Prepayments | 155 | 372 | |
Total | 7,270 | 7,123 | |
Investments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 457 | 600 | € 573 |
Long-term receivables for indirect taxes | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 187 | 188 | 731 |
Other long-term credits | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 252 | 353 | 319 |
Deposits and guarantees | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,633 | 1,285 | 1,624 |
Trade receivables | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 551 | 719 | 488 |
Receivables for subleases | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 15 | 12 | 0 |
Impairment of trade receivables | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | (122) | (154) | € (118) |
Derivative financial assets (Note 19) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | € 3,666 | € 3,389 |
Financial Assets and Other No_4
Financial Assets and Other Non-current Assets - Movement in Non-current Financial Assets (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | |
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | € 6,392 | ||
Non-current financial assets, ending balance | 6,639 | € 6,392 | |
Investments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | 600 | 573 | |
First application of IFRS 16 impact | € 0 | ||
Acquisitions | 10 | 29 | |
Disposals | (13) | (9) | |
Translation differences | (3) | 0 | |
Fair value adjustments and financial updates | (137) | 7 | |
Transfers and other | 0 | 0 | |
Non-current financial assets, ending balance | 457 | 600 | |
Long-term receivables for indirect taxes | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | 188 | 731 | |
First application of IFRS 16 impact | 0 | ||
Acquisitions | 285 | 175 | |
Disposals | (8) | (30) | |
Translation differences | (55) | 0 | |
Fair value adjustments and financial updates | 4 | 26 | |
Transfers and other | (227) | (714) | |
Non-current financial assets, ending balance | 187 | 188 | |
Other long-term credits | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | 353 | 319 | |
First application of IFRS 16 impact | 0 | ||
Acquisitions | 40 | 141 | |
Disposals | (24) | (85) | |
Translation differences | (22) | 3 | |
Fair value adjustments and financial updates | (4) | (1) | |
Transfers and other | (91) | (24) | |
Non-current financial assets, ending balance | 252 | 353 | |
Deposits and guarantees | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | 1,285 | 1,624 | |
First application of IFRS 16 impact | 0 | ||
Acquisitions | 52 | 70 | |
Disposals | (159) | (118) | |
Translation differences | (219) | (14) | |
Fair value adjustments and financial updates | 12 | 7 | |
Transfers and other | 662 | (284) | |
Non-current financial assets, ending balance | 1,633 | 1,285 | |
Trade receivables | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | 719 | 488 | |
First application of IFRS 16 impact | 0 | ||
Acquisitions | 666 | 794 | |
Disposals | (233) | (187) | |
Translation differences | (66) | 9 | |
Fair value adjustments and financial updates | 2 | 8 | |
Transfers and other | (537) | (393) | |
Non-current financial assets, ending balance | 551 | 719 | |
Receivables for subleases | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | 12 | 0 | |
First application of IFRS 16 impact | 13 | ||
Acquisitions | 10 | 5 | |
Disposals | 0 | 0 | |
Translation differences | (1) | 0 | |
Fair value adjustments and financial updates | 0 | 0 | |
Transfers and other | (6) | (6) | |
Non-current financial assets, ending balance | 15 | 12 | |
Impairment of trade receivables | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets, beginning balance | (154) | (118) | |
First application of IFRS 16 impact | € 0 | ||
Acquisitions | (23) | (19) | |
Disposals | 16 | 10 | |
Translation differences | 24 | (3) | |
Fair value adjustments and financial updates | 0 | 0 | |
Transfers and other | 15 | (24) | |
Non-current financial assets, ending balance | € (122) | € (154) |
Financial Assets and Other No_5
Financial Assets and Other Non-current Assets - Narrative (Details) € in Millions, shares in Millions, R$ in Millions | 12 Months Ended | ||||||
Dec. 31, 2020EUR (€)lawsuitbondshares | Dec. 31, 2020BRL (R$)bondshares | Dec. 31, 2019EUR (€)bond | Dec. 31, 2018EUR (€) | Dec. 31, 2018BRL (R$) | Dec. 31, 2020BRL (R$)lawsuit | Dec. 31, 2019BRL (R$) | |
Disclosure of financial assets [line items] | |||||||
Increase in credits and other financial assets | € 160 | R$ 932 | € 1,454 | R$ 6240 | |||
Increase (reduction) to tax expense due to decisions with tax authorities | (75) | (436) | € 789 | 789 | 3,386 | ||
Increase (reduction) to finance income due to decisions with tax authorities | € 85 | R$ 496 | € 665 | R$ 2854 | |||
Outstanding tax credit | 452 | R$ 2046 | |||||
Number of other lawsuits engaged in | lawsuit | 2 | 2 | |||||
Other current financial assets | € 2,495 | 3,123 | |||||
Bonds issued | € 36,502 | € 40,668 | |||||
Telefónica Emisiones, S.A.U. | |||||||
Disclosure of financial assets [line items] | |||||||
Number of bonds issued | bond | 206,919 | 206,919 | 145,000 | ||||
Bonds issued | € 194 | € 129 | |||||
Minimum | |||||||
Disclosure of financial assets [line items] | |||||||
Legal proceedings provision | 277 | R$ 1768 | |||||
Maximum | |||||||
Disclosure of financial assets [line items] | |||||||
Legal proceedings provision | 305 | R$ 1944 | |||||
Collateral guarantees on derivatives | |||||||
Disclosure of financial assets [line items] | |||||||
Other current financial assets | 1,076 | 403 | |||||
Cross currency swaps | |||||||
Disclosure of financial assets [line items] | |||||||
Other current financial assets | 716 | 80 | |||||
Long-term credits | |||||||
Disclosure of financial assets [line items] | |||||||
Transfers and other | (91) | (24) | |||||
Long-term credits | Telefónica United Kingdom | |||||||
Disclosure of financial assets [line items] | |||||||
Transfers and other | 86 | ||||||
Trade receivables | |||||||
Disclosure of financial assets [line items] | |||||||
Transfers and other | (537) | (393) | |||||
Trade receivables | Telefónica United Kingdom | |||||||
Disclosure of financial assets [line items] | |||||||
Transfers and other | 178 | ||||||
Telefónica Germany | |||||||
Disclosure of financial assets [line items] | |||||||
Long-term financial assets | 69 | 68 | |||||
Telefonica Brasil S.A. | |||||||
Disclosure of financial assets [line items] | |||||||
Long-term deposits | 434 | 750 | |||||
Banco Bilbao Vizcaya Argentaria (BBVA) | |||||||
Disclosure of financial assets [line items] | |||||||
Investments in associates | € 178 | 220 | |||||
Proportion of ownership interest in associate (as a percent) | 0.66% | 0.66% | |||||
China Unicom | |||||||
Disclosure of financial assets [line items] | |||||||
Investments in associates | € 85 | € 152 | |||||
Proportion of ownership interest in associate (as a percent) | 0.59% | 0.59% | 0.59% | ||||
Promotora de informaciones, S.A. (Prisa) | |||||||
Disclosure of financial assets [line items] | |||||||
Investments in associates | € 57 | € 94 | |||||
Proportion of ownership interest in associate (as a percent) | 9.03% | 9.03% | 9.03% | ||||
Acquisitions (shares) | shares | 11.3 | 11.3 | |||||
Payments for equity | € 15 |
Inventories - Summary (Details)
Inventories - Summary (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Inventories [Abstract] | ||
Audiovisual rights | € 1,214 | € 1,189 |
Mobile terminals and other equipments | 507 | 830 |
Other inventories | 41 | 33 |
Inventories impairment provision | (44) | (53) |
Inventories | € 1,718 | € 1,999 |
Receivables and Other Current_3
Receivables and Other Current Assets - Summary (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Receivables (Note 16) | € 6,220 | € 8,752 |
Trade receivables billed | 8,334 | 10,969 |
Impairment of trade receivables | (2,549) | (2,798) |
Receivables from associates and joint ventures (Note 9) | 25 | 37 |
Other receivables | 410 | 544 |
Other current assets | 1,303 | 2,033 |
Contractual assets (Note 23) | 104 | 351 |
Capitalized costs (Note 23) | 580 | 625 |
Prepayments | 619 | 1,057 |
Total | € 7,523 | € 10,785 |
Receivables and Other Current_4
Receivables and Other Current Assets - Impairment Provision (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in allowance account for credit losses of financial assets [abstract] | ||
Impairment provision at period start | € 2,798 | |
Impairment provision at period end | 2,549 | € 2,798 |
Trade receivables | ||
Reconciliation of changes in allowance account for credit losses of financial assets [abstract] | ||
Impairment provision at period start | 2,798 | 2,657 |
Allowances | 819 | 1,022 |
Transfers | (192) | |
Inclusion of companies | (30) | |
Amounts applied | (501) | (848) |
Translation differences and other | (375) | (3) |
Impairment provision at period end | € 2,549 | € 2,798 |
Receivables and Other Current_5
Receivables and Other Current Assets - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | € 8,334 | € 10,969 |
Trade receivables | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Transfers | (192) | |
Telefónica United Kingdom | Trade receivables | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Transfers | 207 | |
Government | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | € 341 | € 352 |
Receivables and Other Current_6
Receivables and Other Current Assets - Billed and Unbilled Trade Receivables (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | € 8,334 | € 10,969 |
Impairment | (2,549) | (2,798) |
Unbilled receivables | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | 2,098 | 2,680 |
Impairment | (15) | (19) |
Amount not overdue invoiced | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | 2,538 | 3,978 |
Impairment | (117) | (242) |
Less than 90 days | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | 903 | 1,299 |
Impairment | (126) | (195) |
Between 90 and 180 days | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | 350 | 504 |
Impairment | (146) | (201) |
Between 180 and 360 days | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | 474 | 602 |
Impairment | (326) | (440) |
More than 360 days | ||
Disclosure of Trade and Other Receivables [Line Items] | ||
Current trade receivables | 1,971 | 1,906 |
Impairment | € (1,819) | € (1,701) |
Other Current Financial Asset_2
Other Current Financial Assets - Summary (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Other current financial assets | € 2,495 | € 3,123 |
Short-term credits | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | 1,078 | 1,298 |
Deposits and guarantees | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | 82 | 98 |
Derivative instruments | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | 1,210 | 1,441 |
Other current financial assets | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | € 125 | € 286 |
Other Current Financial Asset_3
Other Current Financial Assets - Narrative (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Other current financial assets | € 2,495 | € 3,123 |
Short-term credits - bank deposits | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | 981 | 1,149 |
Deposits and guarantees | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | 82 | 98 |
Other current financial assets | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | 125 | 286 |
Other current financial assets - short-term investments | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | 114 | 113 |
Telefónica Brazil | Deposits and guarantees | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | € 28 | 61 |
Telefonica de Argentina, SA | Other current financial assets | ||
Disclosure of financial assets [line items] | ||
Other current financial assets | € 174 |
Breakdown of Financial Assets -
Breakdown of Financial Assets - Summary (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | |||
Non-current financial assets | € 6,639 | € 6,392 | |
Other current financial assets | 2,495 | 3,123 | |
Investments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 457 | 600 | € 573 |
Long-term credits | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 252 | 353 | 319 |
Deposits and guarantees | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,633 | 1,285 | 1,624 |
Other current financial assets | 82 | 98 | |
Derivative instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 3,666 | 3,389 | |
Other current financial assets | 1,210 | 1,441 | |
Trade receivables | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 551 | 719 | 488 |
Trade receivables for subleases | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 15 | 12 | 0 |
Impairment losses | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | (122) | (154) | € (118) |
Telefonica, S.A. | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 6,639 | 6,392 | |
Other current financial assets | 14,319 | 17,917 | |
Total | 20,958 | 24,309 | |
Non-current financial assets, fair value | 6,639 | 6,392 | |
Current financial assets, fair value | 14,319 | 17,917 | |
Financial assets, fair value | 20,958 | 24,309 | |
Telefonica, S.A. | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 359 | 511 | |
Other current financial assets | 130 | 317 | |
Total | 489 | 828 | |
Telefonica, S.A. | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 3,930 | 3,591 | |
Other current financial assets | 1,809 | 2,314 | |
Total | 5,739 | 5,905 | |
Telefonica, S.A. | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Total | 0 | 0 | |
Telefonica, S.A. | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 750 | 757 | |
Other current financial assets | 524 | 960 | |
Total | 1,274 | 1,717 | |
Telefonica, S.A. | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Total | 0 | 0 | |
Telefonica, S.A. | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 157 | 104 | |
Other current financial assets | 588 | 567 | |
Total | 745 | 671 | |
Telefonica, S.A. | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 424 | 565 | |
Other current financial assets | 0 | 0 | |
Total | 424 | 565 | |
Telefonica, S.A. | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,958 | 2,676 | |
Other current financial assets | 827 | 1,104 | |
Total | 3,785 | 3,780 | |
Telefonica, S.A. | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,350 | 2,290 | |
Other current financial assets | 12,380 | 15,286 | |
Total | 14,730 | 17,576 | |
Telefonica, S.A. | Investments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 457 | 600 | |
Non-current financial assets, fair value | 457 | 600 | |
Telefonica, S.A. | Investments | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 350 | 496 | |
Telefonica, S.A. | Investments | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 107 | 104 | |
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 | |
Telefonica, S.A. | Investments | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 33 | 35 | |
Telefonica, S.A. | Investments | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Investments | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Investments | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 424 | 565 | |
Telefonica, S.A. | Investments | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Investments | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Long-term credits | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 439 | 541 | |
Non-current financial assets, fair value | 439 | 541 | |
Telefonica, S.A. | Long-term credits | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 9 | 9 | |
Telefonica, S.A. | Long-term credits | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
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 | 0 | 0 | |
Telefonica, S.A. | Long-term credits | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 9 | 9 | |
Telefonica, S.A. | Long-term credits | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Long-term credits | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Long-term credits | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
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 | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 430 | 532 | |
Telefonica, S.A. | Deposits and guarantees | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,633 | 1,285 | |
Non-current financial assets, fair value | 1,633 | 1,285 | |
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 | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Equity instruments | |||
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 | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,633 | 1,285 | |
Telefonica, S.A. | Derivative instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 3,666 | 3,389 | |
Non-current financial assets, fair value | 3,666 | 3,389 | |
Telefonica, S.A. | Derivative instruments | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 6 | |
Telefonica, S.A. | Derivative instruments | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 3,666 | 3,383 | |
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 | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 708 | 713 | |
Telefonica, S.A. | Derivative instruments | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Equity instruments | |||
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 | 2,958 | 2,676 | |
Telefonica, S.A. | Derivative instruments | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 551 | 719 | |
Other current financial assets | 8,769 | 11,550 | |
Non-current financial assets, fair value | 429 | 565 | |
Current financial assets, fair value | 6,220 | 8,752 | |
Telefonica, S.A. | Trade receivables | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 157 | 104 | |
Other current financial assets | 588 | 1,047 | |
Telefonica, S.A. | Trade receivables | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 1 | 480 | |
Telefonica, S.A. | Trade receivables | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 157 | 104 | |
Other current financial assets | 587 | 567 | |
Telefonica, S.A. | Trade receivables | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 394 | 615 | |
Other current financial assets | 8,181 | 10,503 | |
Telefonica, S.A. | Trade receivables for subleases | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 15 | 12 | |
Non-current financial assets, fair value | 15 | 12 | |
Telefonica, S.A. | Trade receivables for subleases | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Trade receivables for subleases | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 15 | 12 | |
Telefonica, S.A. | Impairment losses | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | (122) | (154) | |
Other current financial assets | (2,549) | (2,798) | |
Non-current financial assets, fair value | 0 | 0 | |
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 | |
Other 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 | |
Other 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 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | (122) | (154) | |
Other current financial assets | (2,549) | (2,798) | |
Telefonica, S.A. | Other financial assets | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 2,495 | 3,123 | |
Current financial assets, fair value | 2,495 | 3,123 | |
Telefonica, S.A. | Other financial assets | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 130 | 317 | |
Telefonica, S.A. | Other financial assets | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 1,221 | 1,267 | |
Telefonica, S.A. | Other financial assets | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Other financial assets | Held for trading | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 523 | 480 | |
Telefonica, S.A. | Other financial assets | Fair value option | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Other financial assets | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 1 | 0 | |
Telefonica, S.A. | Other financial assets | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Other financial assets | Hedges | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 827 | 1,104 | |
Telefonica, S.A. | Other financial assets | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 1,144 | 1,539 | |
Telefonica, S.A. | Cash and cash equivalents | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 5,604 | 6,042 | |
Current financial assets, fair value | 5,604 | 6,042 | |
Telefonica, S.A. | Cash and cash equivalents | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Other 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] | |||
Other 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] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Held for trading | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Fair value option | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Debt instruments | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Equity instruments | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Hedges | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Amortized cost | |||
Disclosure of financial assets [line items] | |||
Other current financial assets | € 5,604 | € 6,042 |
Equity - Share Capital and Shar
Equity - Share Capital and Share Premium (Details) - EUR (€) | Dec. 30, 2020 | Jul. 08, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jun. 12, 2015 |
Disclosure of classes of share capital [line items] | |||||||||
Equity | € 18,260,000,000 | € 25,450,000,000 | € 26,996,000,000 | € 26,980,000,000 | € 29,229,000,000 | € 26,618,000,000 | |||
Aggregate amount of approved securities issuance | 25,000,000,000 | ||||||||
Share capital | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Increase (decrease) through equity issued as dividends | € 197,993,390 | € 136,305,986 | |||||||
Number of shares issued as dividends (in shares) | 197,993,390 | 136,305,986 | |||||||
Equity | € 5,526,431,062 | € 5,328,437,672 | 5,526,000,000 | 5,192,000,000 | € 5,192,000,000 | € 5,192,000,000 | € 5,192,000,000 | € 5,192,000,000 | |
Ordinary shares | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Share capital amount | € 5,526,431,062 | € 5,192,131,686 | |||||||
Number of shares | 5,526,431,062 | 5,192,131,686 | |||||||
Par value per share (EUR per share) | € 1 | € 1 | € 1 | ||||||
Maximum authorized share capital | € 2,596,065,843 |
Equity - Dividends (Details)
Equity - Dividends (Details) € / shares in Units, € in Millions | Dec. 04, 2020EUR (€)shares | Jul. 03, 2020EUR (€) | Jun. 30, 2020€ / shares | Jun. 12, 2020tranche€ / shares | Dec. 19, 2019EUR (€)€ / shares | Jun. 20, 2019EUR (€)€ / shares | Jun. 07, 2019tranche€ / shares | Dec. 20, 2018EUR (€)€ / shares | Jun. 15, 2018EUR (€)€ / shares | Jun. 08, 2018tranche€ / shares | Dec. 31, 2020€ / shares | Dec. 31, 2020€ / sharesshares | Dec. 31, 2020EUR (€)€ / shares | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | Dec. 30, 2020€ / shares | Jul. 08, 2020€ / shares | ||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Number of tranches for dividends payable | tranche | 2 | 2 | 2 | ||||||||||||||||
PROFIT FOR THE YEAR | € 1,957 | € 1,664 | [1] | € 3,950 | [1] | ||||||||||||||
Ordinary shares | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Dividends paid (EUR per share) | € / shares | € 0.20 | € 0.40 | € 0.20 | € 0.20 | € 0.40 | € 0.20 | € 0.20 | € 0.40 | € 0.20 | ||||||||||
Proportion of shareholders issued free-of-charge allotment rights issued in cash (as a percent) | 33.12% | 36.99% | |||||||||||||||||
Dividends paid, total amount | € 342 | € 371 | € 1,023 | € 1,023 | € 1,026 | € 1,025 | |||||||||||||
Percentage of shareholders issued free-of-charge allotment rights issued in shares | 66.88% | 63.01% | |||||||||||||||||
Increase (decrease) in number of shares outstanding (shares) | shares | 197,993,390 | 136,305,986 | |||||||||||||||||
Increase (decrease) in share capital, percentage | 3.72% | ||||||||||||||||||
Par value per share (EUR per share) | € / shares | € 1 | € 1 | € 1 | € 1 | € 1 | ||||||||||||||
Non-controlling interests | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
PROFIT FOR THE YEAR | € 375 | € 522 | € 619 | ||||||||||||||||
Telefonica, S.A. | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Unrestricted reserves | (1,685) | ||||||||||||||||||
PROFIT FOR THE YEAR | € (1,685) | ||||||||||||||||||
[1] | The translation differences were changed to reflect the accounting policy indicated in Note 2, |
Equity - Other Equity Instrumen
Equity - Other Equity Instruments (Details) € in Millions, £ in Millions, $ in Millions | Mar. 30, 2020USD ($) | Feb. 13, 2020GBP (£) | Feb. 11, 2020GBP (£) | Dec. 31, 2020EUR (€) | Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) |
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, ending balance | € 38,880 | |||||||
Premium of tender offer | 27 | € 28 | ||||||
Telefónica Europe, B.V. | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Amount repurchased | £ (244) | £ (112) | (232) | £ (128) | ||||
Fixed interest rate | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, ending balance | 24,393 | |||||||
Retained earnings | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Payments on undated deeply subordinated securities | (335) | (256) | € (392) | |||||
Exercisable from issuer in 2027 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | 0 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 500 | 0 | ||||||
Exercisable from issuer in 2027 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 2.502% | |||||||
Exercisable from issuer in 2027 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 500 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 500 | 500 | ||||||
Exercisable from issuer in 2027 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 2.875% | |||||||
Exercisable from issuer in 2025 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 1,300 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 1,300 | 1,300 | ||||||
Exercisable from issuer in 2025 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 4.375% | |||||||
Term debt | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 8,243 | |||||||
Carrying value of deeply subordinated securities, ending balance | 7,550 | 8,243 | ||||||
Exercisable from issuer in 2023 & Exercisable From Issuer In 2026, Issued 03/22/18 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, ending balance | 500 | |||||||
Exercisable from issuer in 2023 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | 1,250 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 1,250 | 1,250 | ||||||
Exercisable from issuer in 2023 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 3.00% | |||||||
Exercisable From Issuer In 2026, Issued 03/22/18 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 1,000 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 1,000 | 1,000 | ||||||
Exercisable From Issuer In 2026, Issued 03/22/18 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 3.875% | |||||||
Exercisable from issuer in 2023 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 1,000 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 1,000 | 1,000 | ||||||
Exercisable from issuer in 2023 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 2.625% | |||||||
Exercisable from issuer in 2022 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 1,000 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 1,000 | 1,000 | ||||||
Exercisable from issuer in 2022 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 3.75% | |||||||
Exercisable From Issuer In 2020, Issued 09/15/16 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 452 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | (452) | |||||||
Carrying value of deeply subordinated securities, ending balance | € 0 | 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% | |||||||
Exercisable From Issuer In 2020, Issued 03/25/14 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 244 | |||||||
Tender Offer | ||||||||
Amount repurchased | ||||||||
Redemption | (244) | |||||||
Carrying value of deeply subordinated securities, ending balance | € 0 | 244 | ||||||
Exercisable From Issuer In 2020, Issued 03/25/14 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 5.00% | |||||||
Exercisable From Issuer In 2024 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 1,000 | |||||||
Tender Offer | 0 | |||||||
Amount repurchased | 0 | |||||||
Redemption | 0 | |||||||
Carrying value of deeply subordinated securities, ending balance | € 1,000 | 1,000 | ||||||
Exercisable From Issuer In 2024 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 5.875% | |||||||
Exercisable From Issuer In 2020, Issued 11/26/13 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 205 | |||||||
Tender Offer | 205 | |||||||
Amount repurchased | (153) | |||||||
Redemption | (52) | |||||||
Carrying value of deeply subordinated securities, ending balance | € 0 | £ 172 | 205 | |||||
Exercisable From Issuer In 2020, Issued 11/26/13 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 6.75% | |||||||
Exercisable From Issuer In 2021 | Gross carrying amount | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, beginning balance | € 292 | |||||||
Tender Offer | 292 | |||||||
Amount repurchased | (232) | |||||||
Redemption | (60) | |||||||
Carrying value of deeply subordinated securities, ending balance | € 0 | € 292 | ||||||
Exercisable From Issuer In 2021 | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Annual Fix | 7.625% | |||||||
Issued by separate lender | Colombia Telecomunicaciones, S.A., ESP | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Amount repurchased | $ | $ (500) | |||||||
Issued by separate lender | Gross carrying amount | Colombia Telecomunicaciones, S.A., ESP | ||||||||
Equity Instruments [Roll Forward] | ||||||||
Carrying value of deeply subordinated securities, ending balance | $ | $ 500 |
Equity - Legal Reserve (Details
Equity - Legal Reserve (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Share Capital, Reserves And Other Equity Interest [Abstract] | ||
Legal reserve, required proportion of profits (as a percent) | 10.00% | |
Legal reserve, minimum proportion of share capital (as a percent) | 20.00% | |
Legal reserve, increase share capital, threshold allowance to increase capital | 10.00% | |
Legal reserve | € 1,038 | € 1,038 |
Legal reserve, proportion of share capital (as a percent) | 18.79% |
Equity - Retained Earnings (Det
Equity - Retained Earnings (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Retained Earnings [Line Items] | ||
Increase (decrease) through appropriation of retained earnings | € 5 | € 5 |
Revaluation reserve | 62 | 67 |
Capital redemption reserve recorded | 0 | € 0 |
Capital redemption reserve | € 731 |
Equity - Translation Difference
Equity - Translation Differences (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | € (25,980) | € (20,252) | € (20,157) |
Brazilian real | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | (15,365) | (10,910) | (10,603) |
Pound sterling | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | (3,344) | (2,868) | (3,266) |
Argentine peso | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | (2,178) | (1,936) | (1,890) |
Other currencies | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | (1,339) | (810) | (882) |
Venezuelan Bolívar Soberano | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | € (3,754) | € (3,728) | € (3,516) |
Equity - Application of IFRS 16
Equity - Application of IFRS 16, IFRS 15 and IFRS 9 (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Disclosure of reserves within equity [line items] | ||||||
Equity | € 18,260 | € 25,450 | € 26,996 | € 26,980 | € 29,229 | € 26,618 |
Gross impact on equity | 16 | 578 | ||||
IFRS 16 | ||||||
Disclosure of reserves within equity [line items] | ||||||
Equity | 16 | |||||
Attributable to equity holders | 11 | |||||
Attributable to non-controlling interest | € 5 | |||||
Total | ||||||
Disclosure of reserves within equity [line items] | ||||||
Gross impact on equity | 785 | |||||
Tax effect | (207) | |||||
Impact on equity | 578 | |||||
Attributable to equity holders | 512 | |||||
Attributable to non-controlling interest | 66 | |||||
IFRS 9 | ||||||
Disclosure of reserves within equity [line items] | ||||||
Gross impact on equity | (221) | |||||
Tax effect | 56 | |||||
Impact on equity | (165) | |||||
Attributable to equity holders | (142) | |||||
Attributable to non-controlling interest | (23) | |||||
IFRS 15 | ||||||
Disclosure of reserves within equity [line items] | ||||||
Gross impact on equity | 1,006 | |||||
Tax effect | (263) | |||||
Impact on equity | 743 | |||||
Attributable to equity holders | 654 | |||||
Attributable to non-controlling interest | € 89 |
Equity - Treasury Share Instrum
Equity - Treasury Share Instruments (Details) - EUR (€) € / shares in Units, € in Millions | Feb. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of classes of share capital [line items] | |||||||
Acquisition price (EUR per share) | € 4.84 | € 9.88 | € 10.48 | ||||
Trading price (EUR per share) | € 3.25 | € 6.23 | € 7.34 | ||||
Market value | € 319 | € 483 | € 481 | ||||
Proportion of total shares classified as treasury shares (as a percent) | 1.77748% | 1.49385% | 1.26145% | ||||
Treasury Shares Activity [Roll Forward] | |||||||
Purchase of treasury shares | € 234 | € 99 | € 0 | ||||
Derivative financial instrument notional shares equivalent | 176,000,000 | 48,000,000 | |||||
Treasury shares | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of shares | 98,231,380 | 77,562,635 | 65,496,120 | 98,231,380 | 77,562,635 | 65,496,120 | |
Treasury Shares Activity [Roll Forward] | |||||||
Treasury shares, beginning balance | 77,562,635 | 65,496,120 | 65,687,859 | ||||
Acquisitions (shares) | 68,640,303 | 14,033,446 | 0 | ||||
Scrip dividend (shares) | 6,252,817 | ||||||
Employee share option plan (shares) | (3,118,898) | (1,966,931) | (191,739) | ||||
Other movements (shares) | 51,105,477 | ||||||
Treasury shares, ending balance | 98,231,380 | 77,562,635 | 65,496,120 | ||||
Number Of Share Awards In Share Based Payment Arrangements | 3,118,898 | 1,966,931 | 191,739 | ||||
Number of shares | 98,231,380 | 77,562,635 | 65,496,120 | 98,231,380 | 77,562,635 | 65,496,120 | |
Acquisitions (shares) | 68,640,303 | 14,033,446 | 0 | ||||
Scrip dividend (shares) | 6,252,817 | ||||||
Other movements (shares) | 51,105,477 | ||||||
Prosegur Alarmas España, S.L. | |||||||
Treasury Shares Activity [Roll Forward] | |||||||
Investments accounted for by the equity method | € 0 | ||||||
Associates and Joint Ventures | Prosegur Alarmas España, S.L. | |||||||
Treasury Shares Activity [Roll Forward] | |||||||
Proportion of ownership interest in equity method investment | 50.00% | ||||||
Number of shares issued for equity method investment (in shares) | 49,545,262 | ||||||
Investments accounted for by the equity method | € 266 |
Equity - Equity Attributable to
Equity - Equity Attributable to Non-Controlling Interests (Details) - EUR (€) € in Millions | Jul. 27, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | € 8,332 | |||
Profit/(loss) for the year | 375 | € 522 | € 619 | |
Other movements | 29 | 28 | 1 | |
Ending balance | 7,025 | 8,332 | ||
Proceeds from sales of interests in associates | € 378.8 | |||
Telxius Telecom, S.A. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Sales of non-controlling interests and inclusion of companies | 645 | |||
Sales of non-controlling interests and inclusion of companies | 645 | |||
Telefónica Moviles Guatemala | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Purchase of investment interest | € 114 | |||
Proportion of share capital sold (as a percent) | 60.00% | |||
Telefonía Celular de Nicaragua, S.A. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Purchase of investment interest | € 112 | |||
Proportion of share capital sold (as a percent) | 60.00% | |||
Telefónica Móviles Panamá, S.A. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Purchase of investment interest | € 188 | |||
Proportion of share capital sold (as a percent) | 60.00% | |||
Telxius Towers Germany Gmbh | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Increase (decrease) in deferred tax liability (asset) | € 184 | |||
Pontel Participaciones, SL | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Proportion of share capital sold (as a percent) | 16.65% | |||
Telefonica, S.A. | Telxius Telecom, S.A. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Proportion of indirect participation (as a percent) | 9.99% | |||
Telxius Telecom, S.A. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Proportion of indirect participation (as a percent) | 9.99% | |||
Non-controlling interests | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Other movements | (5) | € (1) | 1 | |
Non-controlling interests | Telefónica Brazil | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | 4,442 | 4,604 | 5,018 | |
Sales of non-controlling interests and inclusion of companies | (2) | (3) | 0 | |
Acquisitions of non-controlling interests and exclusion of companies | 0 | 0 | 0 | |
Dividends paid | (272) | (374) | (406) | |
Profit/(loss) for the year | 217 | 307 | 556 | |
Change in translation differences | (1,296) | (85) | (550) | |
Other movements | 17 | (7) | (14) | |
Ending balance | 3,106 | 4,442 | 4,604 | |
Sales of non-controlling interests and inclusion of companies | (2) | (3) | 0 | |
Non-controlling interests | Telefónica Deutschland Holding, A.G. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | 2,544 | 2,873 | 3,114 | |
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 | (156) | (247) | (238) | |
Profit/(loss) for the year | (30) | (75) | (88) | |
Change in translation differences | 0 | 0 | 0 | |
Other movements | (12) | (7) | 85 | |
Ending balance | 2,346 | 2,544 | 2,873 | |
Sales of non-controlling interests and inclusion of companies | 0 | 0 | 0 | |
Non-controlling interests | Colombia Telecomunicaciones, S.A., ESP | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | 526 | 523 | 523 | |
Sales of non-controlling interests and inclusion of companies | 0 | (1) | 0 | |
Acquisitions of non-controlling interests and exclusion of companies | 0 | 0 | 0 | |
Dividends paid | 0 | 0 | 0 | |
Profit/(loss) for the year | 11 | 11 | 41 | |
Change in translation differences | (62) | 4 | (19) | |
Other movements | (67) | (11) | (22) | |
Ending balance | 408 | 526 | 523 | |
Sales of non-controlling interests and inclusion of companies | 0 | (1) | 0 | |
Non-controlling interests | Telefónica Centroamericana Inversiones, S.L. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | 106 | 316 | 307 | |
Sales of non-controlling interests and inclusion of companies | 0 | 0 | 0 | |
Acquisitions of non-controlling interests and exclusion of companies | 0 | (414) | 0 | |
Dividends paid | (39) | 0 | (28) | |
Profit/(loss) for the year | (8) | 196 | 30 | |
Change in translation differences | (5) | 7 | 7 | |
Other movements | 1 | 1 | 0 | |
Ending balance | 55 | 106 | 316 | |
Sales of non-controlling interests and inclusion of companies | 0 | 0 | 0 | |
Non-controlling interests | Telxius Telecom, S.A. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | 681 | 677 | 694 | |
Sales of non-controlling interests and inclusion of companies | 323 | 0 | 139 | |
Acquisitions of non-controlling interests and exclusion of companies | 0 | 0 | 0 | |
Dividends paid | (44) | (87) | (231) | |
Profit/(loss) for the year | 187 | 86 | 80 | |
Change in translation differences | (69) | 7 | 5 | |
Other movements | 11 | (2) | (10) | |
Ending balance | 1,089 | 681 | 677 | |
Sales of non-controlling interests and inclusion of companies | 323 | 0 | 139 | |
Non-controlling interests | Other | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | 33 | 40 | 42 | |
Sales of non-controlling interests and inclusion of companies | 0 | 0 | 0 | |
Acquisitions of non-controlling interests and exclusion of companies | (3) | 0 | 1 | |
Dividends paid | (5) | (2) | (3) | |
Profit/(loss) for the year | (2) | (3) | 0 | |
Change in translation differences | (3) | 0 | (1) | |
Other movements | 1 | (2) | 1 | |
Ending balance | 21 | 33 | 40 | |
Sales of non-controlling interests and inclusion of companies | 0 | 0 | 0 | |
Non-controlling interests | Telefonica, S.A. | ||||
Equity Attributable to Non-Controlling Interests [Roll Forward] | ||||
Beginning balance | 8,332 | 9,033 | 9,698 | |
Sales of non-controlling interests and inclusion of companies | 321 | (4) | 139 | |
Acquisitions of non-controlling interests and exclusion of companies | (3) | (414) | 1 | |
Dividends paid | (516) | (710) | (906) | |
Profit/(loss) for the year | 375 | 522 | 619 | |
Change in translation differences | (1,435) | (67) | (558) | |
Other movements | (49) | (28) | 40 | |
Ending balance | 7,025 | 8,332 | 9,033 | |
Sales of non-controlling interests and inclusion of companies | € 321 | € (4) | € 139 |
Equity - Financial Position Dis
Equity - Financial Position Disclosures (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Entity Information [Line Items] | |||
Revenues | € 43,076 | € 48,422 | € 48,693 |
Depreciation and amortization | (9,359) | (10,582) | (9,049) |
Operating income | 4,139 | 4,537 | 6,522 |
Property, plant and equipment | 23,769 | 32,228 | 33,295 |
Total allocated assets | 105,051 | 118,877 | |
Colombia Telecomunicaciones, S.A, ESP | |||
Entity Information [Line Items] | |||
Revenues | 1,249 | 1,410 | 1,468 |
OIBDA | 438 | 558 | 556 |
Depreciation and amortization | (325) | (386) | (385) |
Operating income | 113 | 172 | 171 |
CapEx | 156 | 309 | 192 |
Property, plant and equipment | 1,530 | 1,904 | 1,950 |
Total allocated assets | 2,864 | 3,296 | 3,073 |
Total allocated liabilities | € 2,049 | € 1,825 | € 1,615 |
Equity - Cash Flow Disclosures
Equity - Cash Flow Disclosures (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Entity Information [Line Items] | |||
Net cash flow provided by operating activities | € 13,196 | € 15,022 | € 13,423 |
Net cash flow used in investing activities | (7,790) | (5,641) | (8,685) |
Net cash flow used in financing activities | (5,438) | (9,021) | (3,880) |
Net increase (decrease) in cash and cash equivalents during the year | (438) | 350 | 500 |
Telefónica Brazil | |||
Entity Information [Line Items] | |||
Net cash flow provided by operating activities | 3,517 | 4,231 | 3,599 |
Net cash flow used in investing activities | (1,238) | (1,900) | (2,012) |
Net cash flow used in financing activities | (1,817) | (2,230) | (1,660) |
Net increase (decrease) in cash and cash equivalents during the year | 462 | 101 | (73) |
Telefónica Germany | |||
Entity Information [Line Items] | |||
Net cash flow provided by operating activities | 2,386 | 2,249 | 1,898 |
Net cash flow used in investing activities | (459) | (1,194) | (1,137) |
Net cash flow used in financing activities | (1,342) | (997) | (569) |
Net increase (decrease) in cash and cash equivalents during the year | 585 | 58 | 192 |
Colombia Telecomunicaciones, S.A, ESP | |||
Entity Information [Line Items] | |||
Net cash flow provided by operating activities | 276 | 237 | 344 |
Net cash flow used in investing activities | (189) | 15 | (167) |
Net cash flow used in financing activities | (42) | (169) | (229) |
Net increase (decrease) in cash and cash equivalents during the year | 45 | 83 | (52) |
Telxius Telecom, S.A. | |||
Entity Information [Line Items] | |||
Net cash flow provided by operating activities | 528 | 463 | 341 |
Net cash flow used in investing activities | (1,141) | (199) | (175) |
Net cash flow used in financing activities | 575 | (251) | (239) |
Net increase (decrease) in cash and cash equivalents during the year | € (38) | € 13 | € (73) |
Financial Liabilities - Narrati
Financial Liabilities - Narrative (Details) - EUR (€) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial liabilities [line items] | ||
Pending payment amount from undiscounted cash flows of loans and other payables | € 59,000,000 | € 220,000,000 |
Payments made from undiscounted cash flows of loans and other payables | 235,000,000 | 380,000,000 |
Debentures and bonds issued | 36,502,000,000 | 40,668,000,000 |
Commercial papers issuable | 5,000,000,000 | |
Commercial papers issued | 1,248,000,000 | 1,390,000,000 |
Promissory notes issuable, allowed increase | 2,000,000,000 | |
Promissory notes issued | 36,502,000,000 | |
Available financing capacity | 13,354,000,000 | € 13,679,000,000 |
Borrowings maturing in more than twelve months | 12,466,000,000 | |
Notes and debentures issued | € 36,502,000,000 | |
Latin America | ||
Disclosure of financial liabilities [line items] | ||
Proportion of gross debt (as a percent) | 1.00% | |
2021 | ||
Disclosure of financial liabilities [line items] | ||
Interest payable | € 1,245,000,000 | |
Promissory notes issued | 4,321,000,000 | |
Notes and debentures issued | 4,321,000,000 | |
2022 | ||
Disclosure of financial liabilities [line items] | ||
Interest payable | 1,134,000,000 | |
Promissory notes issued | 3,675,000,000 | |
Notes and debentures issued | 3,675,000,000 | |
2023 | ||
Disclosure of financial liabilities [line items] | ||
Interest payable | 1,017,000,000 | |
Promissory notes issued | 2,292,000,000 | |
Notes and debentures issued | 2,292,000,000 | |
2024 | ||
Disclosure of financial liabilities [line items] | ||
Interest payable | 926,000,000 | |
Promissory notes issued | 1,140,000,000 | |
Notes and debentures issued | 1,140,000,000 | |
2025 | ||
Disclosure of financial liabilities [line items] | ||
Interest payable | 874,000,000 | |
Promissory notes issued | 3,082,000,000 | |
Notes and debentures issued | 3,082,000,000 | |
Subsequent years | ||
Disclosure of financial liabilities [line items] | ||
Interest payable | 8,365,000,000 | |
Promissory notes issued | 21,992,000,000 | |
Notes and debentures issued | 21,992,000,000 | |
Derivative instruments | ||
Disclosure of financial liabilities [line items] | ||
Fair value of current financial liabilities | 1,210,000,000 | |
Fair value of non-current liabilities | € 3,666,000,000 | |
Commercial Paper | ||
Disclosure of financial liabilities [line items] | ||
Average interest rate (as a percent) | (0.28%) | (0.28%) |
Promissory note | ||
Disclosure of financial liabilities [line items] | ||
Promissory notes issued | € 269,000,000 | € 75,000,000 |
Notes and debentures issued | € 269,000,000 | € 75,000,000 |
Loans and other payables | ||
Disclosure of financial liabilities [line items] | ||
Average interest rate (as a percent) | 1.29% | 1.52% |
Financial Liabilities - Maturit
Financial Liabilities - Maturity Analysis of Financial Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Total Issues | € 38,880 | |
Loans and other payables | 4,535 | € 4,488 |
Telefonica, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 38,749 | |
Promissory notes & commercial paper | 2,273 | |
Total Issues | 41,022 | |
Loans and other payables | 4,535 | |
Derivative instruments (Note 16) | 4,863 | |
Total | 50,420 | € 52,364 |
Telefonica, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,832 | |
Promissory notes & commercial paper | 1,551 | |
Total Issues | 6,383 | |
Loans and other payables | 1,045 | |
Derivative instruments (Note 16) | 695 | |
Total | 8,123 | |
Telefonica, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,683 | |
Promissory notes & commercial paper | 0 | |
Total Issues | 3,683 | |
Loans and other payables | 216 | |
Derivative instruments (Note 16) | 344 | |
Total | 4,243 | |
Telefonica, S.A. | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2,301 | |
Promissory notes & commercial paper | 140 | |
Total Issues | 2,441 | |
Loans and other payables | 755 | |
Derivative instruments (Note 16) | 136 | |
Total | 3,332 | |
Telefonica, S.A. | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,138 | |
Promissory notes & commercial paper | 263 | |
Total Issues | 1,401 | |
Loans and other payables | 436 | |
Derivative instruments (Note 16) | 155 | |
Total | 1,992 | |
Telefonica, S.A. | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,075 | |
Promissory notes & commercial paper | 319 | |
Total Issues | 3,394 | |
Loans and other payables | 967 | |
Derivative instruments (Note 16) | 74 | |
Total | 4,435 | |
Telefonica, S.A. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 23,720 | |
Promissory notes & commercial paper | 0 | |
Total Issues | 23,720 | |
Loans and other payables | 1,116 | |
Derivative instruments (Note 16) | 3,459 | |
Total | 28,295 | |
Telefonica, S.A. | Non-current | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 33,917 | |
Promissory notes & commercial paper | 722 | |
Total Issues | 34,639 | |
Loans and other payables | 3,490 | |
Derivative instruments (Note 16) | 4,168 | |
Total | € 42,297 |
Financial Liabilities - Breakdo
Financial Liabilities - Breakdown of Financial Liabilities (Details) - Telefonica, S.A. - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial liabilities [line items] | ||
Total carrying amount | € 50,420 | € 52,364 |
Total fair value | 56,082 | 56,867 |
Level 1 (Quoted prices) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 4 | 59 |
Level 2 (Other directly observable market inputs) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 4,859 | 2,823 |
Level 3 (Inputs not based on observable market data) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Fair value through profit or loss, Held for trading | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 1,208 | 961 |
Fair value through profit or loss, Fair value option | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Hedges | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 3,655 | 1,921 |
Liabilities at amortized cost | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 45,557 | 49,482 |
Issues | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 41,022 | 44,994 |
Total fair value | 46,624 | 49,474 |
Issues | Level 1 (Quoted prices) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Issues | Level 2 (Other directly observable market inputs) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Issues | Level 3 (Inputs not based on observable market data) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Issues | Fair value through profit or loss, Held for trading | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Issues | Fair value through profit or loss, Fair value option | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Issues | Hedges | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Issues | Liabilities at amortized cost | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 41,022 | 44,994 |
Loans and other payables | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 4,535 | 4,488 |
Total fair value | 4,595 | 4,511 |
Loans and other payables | Level 1 (Quoted prices) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Loans and other payables | Level 2 (Other directly observable market inputs) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Loans and other payables | Level 3 (Inputs not based on observable market data) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Loans and other payables | Fair value through profit or loss, Held for trading | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Loans and other payables | Fair value through profit or loss, Fair value option | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Loans and other payables | Hedges | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Loans and other payables | Liabilities at amortized cost | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 4,535 | 4,488 |
Derivative instruments | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 4,863 | 2,882 |
Total fair value | 4,863 | 2,882 |
Derivative instruments | Level 1 (Quoted prices) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 4 | 59 |
Derivative instruments | Level 2 (Other directly observable market inputs) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 4,859 | 2,823 |
Derivative instruments | Level 3 (Inputs not based on observable market data) | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Derivative instruments | Fair value through profit or loss, Held for trading | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 1,208 | 961 |
Derivative instruments | Fair value through profit or loss, Fair value option | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 0 | 0 |
Derivative instruments | Hedges | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 3,655 | 1,921 |
Derivative instruments | Liabilities at amortized cost | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | € 0 | € 0 |
Financial Liabilities - Schedul
Financial Liabilities - Schedule of Change in Financial Liabilities (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Issues | ||
Disclosure of offsetting of financial liabilities [line items] | ||
Financial liabilities, beginning balance | € 42,636 | € 41,176 |
First application of IFRS 16 | 0 | |
Cash received | 4,011 | 4,186 |
Cash paid | (6,728) | (3,653) |
Translation differences and exchange gains and losses | (1,501) | 427 |
Financial updates | 344 | 494 |
Others movements | (13) | 6 |
Financial liabilities, ending balance | 38,749 | 42,636 |
Promissory notes and commercial paper | ||
Disclosure of offsetting of financial liabilities [line items] | ||
Financial liabilities, beginning balance | 2,358 | 2,454 |
First application of IFRS 16 | 0 | |
Cash received | 276 | 412 |
Cash paid | (343) | (512) |
Translation differences and exchange gains and losses | (16) | 1 |
Financial updates | 0 | 1 |
Others movements | (2) | 2 |
Financial liabilities, ending balance | 2,273 | 2,358 |
Loans and other payables | ||
Disclosure of offsetting of financial liabilities [line items] | ||
Financial liabilities, beginning balance | 4,488 | 8,555 |
First application of IFRS 16 | (151) | |
Cash received | 3,121 | 1,138 |
Cash paid | (2,605) | (6,076) |
Translation differences and exchange gains and losses | (290) | 55 |
Financial updates | 23 | 25 |
Others movements | (202) | 942 |
Financial liabilities, ending balance | € 4,535 | € 4,488 |
Financial Liabilities - Interes
Financial Liabilities - Interest-Bearing Debt (Details) | 12 Months Ended | |||||||
Dec. 31, 2020EUR (€)extension_option | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | Sep. 30, 2020EUR (€) | Jul. 17, 2020EUR (€) | Jul. 16, 2020EUR (€) | Feb. 18, 2020EUR (€) | Feb. 17, 2020EUR (€) | |
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | € 109,267,000,000 | € 128,654,000,000 | ||||||
Outstanding balance | 38,880,000,000 | |||||||
Drawndown | 4,516,000,000 | 1,702,000,000 | € 3,973,000,000 | |||||
Repayments of loans, borrowings and promissory notes | (2,852,000,000) | (6,356,000,000) | € (4,040,000,000) | |||||
Telefonica, S.A. | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Outstanding balance | 41,022,000,000 | |||||||
Telefonica, S.A. | Bilateral Loan due May 14, 2024 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 135,000,000 | € 135,000,000 | € 300,000,000 | |||||
Outstanding balance | 0 | |||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Telefonica, S.A. | Bilateral Loan due March 12, 2030 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 150,000,000 | |||||||
Drawndown | 150,000,000 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Telefonica, S.A. | Bilateral Loan due May 6, 2027 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 200,000,000 | |||||||
Drawndown | 200,000,000 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Telefonica, S.A. | Bilateral Loan due June 18, 2024 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 200,000,000 | |||||||
Outstanding balance | 0 | |||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | € 0 | |||||||
Number of extension options of debt instrument | extension_option | 2 | |||||||
Colombia Telecomunicaciones, S.A, ESP | Bilateral Loan due March 24, 2025 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | € 0 | |||||||
Outstanding balance | 175,000,000 | 0 | ||||||
Drawndown | 175,000,000 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Colombia Telecomunicaciones, S.A, ESP | Syndicated Loan due March 18, 2025 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 204,000,000 | 0 | € 250,000,000 | € 320,000,000 | ||||
Drawndown | 261,000,000 | |||||||
Repayments of loans, borrowings and promissory notes | (61,000,000) | |||||||
Early repayment of debt | € 70,000,000 | |||||||
Telefónica Germany GmbH & Co. OHG | EIB Financing (Tranche 2) due July 14, 2029 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 150,000,000 | |||||||
Outstanding balance | 0 | 0 | ||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Telefónica Móviles Chile, S.A. | Bilateral Loan due September 29, 2023 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | € 140,000,000 | ||||||
Outstanding balance | 114,000,000 | € 0 | € 140,000,000 | |||||
Drawndown | 114,000,000 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Telefonica UK Limited | Syndicated Loan due September 29, 2020 | ||||||||
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 | |||||||
Number of extension options of debt instrument | extension_option | 2 | |||||||
Period of extension options of debt instrument | 6 months |
Financial Liabilities - Loans b
Financial Liabilities - Loans by Currency (Details) € in Millions, £ in Millions, S/ in Millions, R$ in Millions, $ in Millions, $ in Millions | Dec. 31, 2020EUR (€) | Dec. 31, 2020USD ($) | Dec. 31, 2020BRL (R$) | Dec. 31, 2020COP ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019EUR (€) | Dec. 31, 2019USD ($) | Dec. 31, 2019BRL (R$) | Dec. 31, 2019COP ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2019PEN (S/) |
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | € 4,535 | € 4,488 | ||||||||||
Euro | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 2,557 | 2,484 | ||||||||||
US dollar | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 1,391 | $ 1,707 | 1,355 | $ 1,522 | ||||||||
Brazilian real | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 59 | R$ 376 | 337 | R$ 1527 | ||||||||
Colombian Peso | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 214 | $ 899,695 | 45 | $ 166,616 | ||||||||
Pound sterling | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 111 | £ 100 | 117 | £ 100 | ||||||||
Peruvian nuevo sol | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 3 | S/ 14 | 14 | S/ 54 | ||||||||
Other currencies | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | € 200 | € 136 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Risk Management Policies - Exchange Rate Risk (Details) € in Millions, Bs. in Millions | 12 Months Ended | |||
Dec. 31, 2020EUR (€)venezuelanBolivarSoberano / $ | Dec. 31, 2019EUR (€)venezuelanBolivarSoberano / $ | Dec. 31, 2020VEB (Bs.)venezuelanBolivarSoberano / $ | Dec. 31, 2019VEB (Bs.)venezuelanBolivarSoberano / $ | |
Disclosure of detailed information about hedging instruments [line items] | ||||
Foreign exchange gain (loss) | € (26) | € (413) | ||
Foreign exchange rate | venezuelanBolivarSoberano / $ | 2,094,405 | 68,448 | 2,094,405 | 68,448 |
Net debt held as a hedging instrument | € 35,228 | |||
Increase in financial income due to the effect of monetary correction for inflation | € 165 | € 492 | ||
Latin American Denominated Borrowings | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Nominal amount of hedging instrument | 4,884 | 4,077 | ||
US Dollar Denominated Borrowings | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Nominal amount of hedging instrument | 202 | 244 | ||
Pounds Sterling Denominated Borrowings | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Nominal amount of hedging instrument | 8,371 | 3,938 | ||
Venezuelan Bolívar Soberano | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Foreign exchange gain (loss) | € (139) | € (426) | ||
Venezuelan Bolívar Soberano | Foreign currency exchange risk | Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Net debt held as a hedging instrument | € 43 | € 93 | Bs. 109,774,609 | Bs. 7,122,859 |
Latin American currencies vs USD | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Increase in exchange rate | 10.00% |
Derivative Financial Instrume_4
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, 2020EUR (€) | |
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 | € (55) |
Decrease in net income | 55 |
Impact on consolidated equity | |
Decrease in consolidated equity | (711) |
Increase in consolidated equity | € 711 |
USD 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 | € (23) |
Decrease in net income | 23 |
Impact on consolidated equity | |
Decrease in consolidated equity | (101) |
Increase in consolidated equity | € 101 |
Other 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 | € (44) |
Decrease in net income | 44 |
Impact on consolidated equity | |
Decrease in consolidated equity | (373) |
Increase in consolidated equity | € 373 |
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 | € 12 |
Decrease in net income | (12) |
Impact on consolidated equity | |
Decrease in consolidated equity | (237) |
Increase in consolidated equity | € 237 |
Derivative Financial Instrume_5
Derivative Financial Instruments and Risk Management Policies - Interest Rate Risk (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Financial Instruments [Abstract] | ||
Percentage of net debt plus commitments pegged to fixed interest rates for a period greater than one year | 75.20% | 74.60% |
Percentage of net debt at floating rates or at fixed rates maturing in under one year | 24.80% | |
Percentage of net debt at floating rates or at fixed rates maturing in under one year with collared interest rates over one year | 1.20% | 1.10% |
Net financial results | € 1,558 | |
Increase (decrease) in net financial results from prior year | € (274) |
Derivative Financial Instrume_6
Derivative Financial Instruments and Risk Management Policies - Sensitivity Analysis Due to Fluctuations in Interest Rates (Details) € in Millions | 12 Months Ended |
Dec. 31, 2020EUR (€) | |
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 | € (100) |
Increase in consolidated income | 97 |
Impact on consolidated equity | |
Increase in consolidated equity | (858) |
Decrease in consolidated equity | € 858 |
Derivative Financial Instrume_7
Derivative Financial Instruments and Risk Management Policies - Share Risk (Details) - First Cycle - Performance and Investment Plan | Jan. 01, 2018cycle |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Award vesting period | 5 years |
Number of independent cycles | 3 |
Period in force of each cycle | 3 years |
Derivative Financial Instrume_8
Derivative Financial Instruments and Risk Management Policies - Liquidity Risk (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial liabilities [line items] | ||
Average maturity of net financial debt | 10 years 9 months 14 days | |
Period to pay all commitments | 12 months | |
Net debt held as a hedging instrument | € 35,228 | |
Current lease liabilities | 1,255 | € 1,600 |
Non-current financial liabilities | 12,466 | |
Telefonica, S.A. | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | 50,420 | 52,364 |
Current lease liabilities | € 1,255 | € 1,600 |
Minimum | ||
Disclosure of financial liabilities [line items] | ||
Average maturity of net financial debt | 6 years | |
2021 | Telefonica, S.A. | ||
Disclosure of financial liabilities [line items] | ||
Total carrying amount | € 8,123 |
Derivative Financial Instrume_9
Derivative Financial Instruments and Risk Management Policies - Country Risk (Details) € in Millions | 12 Months Ended |
Dec. 31, 2020EUR (€) | |
Disclosure of financial liabilities [line items] | |
Borrowings | € 35,228 |
Proportion of net financial debt held (as a percent) | 3.60% |
Net repatriation of funds from dividends received | € 746 |
Telefónica Hispam Norte | |
Disclosure of financial liabilities [line items] | |
Borrowings | 1,273 |
Net repatriation of funds to Spain | € 966 |
Derivative Financial Instrum_10
Derivative Financial Instruments and Risk Management Policies - Credit Risk (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Financial Instruments [Abstract] | ||
Exposure to credit risk on guarantees | € 5,080 | € 5,774 |
Derivative Financial Instrum_11
Derivative Financial Instruments and Risk Management Policies - Interest Rate Benchmark Reform And Associated Risks (Details) | Dec. 31, 2020employee |
USD Libor 3M | |
Disclosure of detailed information about hedged items [line items] | |
Nominal amount of hedging instrument | 39,048,000,000 |
GBP Libor 3M | |
Disclosure of detailed information about hedged items [line items] | |
Nominal amount of hedging instrument | 2,200,000,000 |
CHF Libor 3M | |
Disclosure of detailed information about hedged items [line items] | |
Nominal amount of hedging instrument | 300,000,000 |
USD Libor 1M | |
Disclosure of detailed information about hedged items [line items] | |
Nominal amount of hedging instrument | 150,000,000 |
USD Libor 6M | |
Disclosure of detailed information about hedged items [line items] | |
Nominal amount of hedging instrument | 140,000,000 |
Derivative Financial Instrum_12
Derivative Financial Instruments and Risk Management Policies - Derivatives Policy (Details) € in Millions | 12 Months Ended | |
Dec. 31, 2020EUR (€)type_of_hedge | Dec. 31, 2019EUR (€) | |
Financial Instruments [Abstract] | ||
Notional amount | € | € 109,267 | € 128,654 |
Decrease in outstanding derivatives (as a percent) | 15.00% | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Number of types of hedges | type_of_hedge | 3 | |
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 Instrum_13
Derivative Financial Instruments and Risk Management Policies - Breakdown of Financial Results (Details) € in Millions, R$ in Millions | 12 Months Ended | ||||
Dec. 31, 2020EUR (€) | Dec. 31, 2020BRL (R$) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | Dec. 31, 2018BRL (R$) | |
Disclosure of financial assets [line items] | |||||
Other financial income | € 5,682 | € 6,158 | € 5,608 | ||
Total | 43,076 | 48,422 | 48,693 | ||
Subtotal | 13 | ||||
Interests payments (Note 28) | (179) | (185) | |||
Subtotal | (2,417) | (2,795) | (2,690) | ||
Increase (reduction) to finance income due to decisions with tax authorities | 85 | R$ 496 | 665 | R$ 2854 | |
Telefonica de Argentina, SA | |||||
Disclosure of financial assets [line items] | |||||
Impact of hyperinflation on net monetary position on financial income | 43 | 42 | 67 | ||
Derivative instruments | |||||
Disclosure of financial assets [line items] | |||||
Interest income | 185 | 291 | 234 | ||
Dividends received | 12 | 15 | 15 | ||
Other financial income | 159 | 120 | 826 | ||
Total | 356 | 426 | 1,075 | ||
Changes in fair value of asset derivatives at fair value through profit or loss | 255 | 353 | 202 | ||
Changes in fair value of liability derivatives at fair value through profit or loss | (507) | (376) | (190) | ||
Changes in the fair value of debt instruments and other assets at fair value to profit or loss | (3) | (3) | (3) | ||
Transfer from equity of results of cash flow hedges - future cash flows that are not longer expected to happen | 0 | 0 | (7) | ||
(Loss)/Gain on fair value hedges | 563 | 604 | (223) | ||
Gain/(loss) on adjustment to items hedged by fair value hedges | (525) | (540) | 271 | ||
Subtotal | (217) | 38 | 50 | ||
Interest expenses | (1,320) | (1,690) | (1,715) | ||
Interests payments (Note 28) | (193) | (213) | |||
Ineffective portion of cash flow hedges | 45 | (20) | (29) | ||
Accretion of provisions and other liabilities | (280) | (334) | (410) | ||
Other financial expenses | (131) | (160) | (203) | ||
Subtotal | (1,879) | (2,417) | (2,357) | ||
Net finance costs excluding foreign exchange differences and hyperinflation adjustments | € (1,740) | € (1,953) | (1,232) | ||
Derivative instruments | Telefónica Brazil | |||||
Disclosure of financial assets [line items] | |||||
Other financial income | € 665 |
Derivative Financial Instrum_14
Derivative Financial Instruments and Risk Management Policies - Evolution of Derivative Instruments (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative Assets/ Liabilities, Net [Roll Forward] | ||
Gain (loss) on derivative | € 13 | |
Currency swaps | ||
Derivative Assets/ Liabilities, Net [Roll Forward] | ||
Gain (loss) on derivative | (557) | € 839 |
Derivative instruments | ||
Derivative Assets/ Liabilities, Net [Roll Forward] | ||
Opening balance of assets/(liabilities) | 1,948 | 1,181 |
Financing payments | 139 | 148 |
Financing proceeds | (1,119) | (153) |
Interest (proceeds)/payments | (549) | (238) |
Other (proceeds)/payments | (11) | 5 |
Fair value adjustments through other comprehensive income | (870) | 357 |
Movements with counterparty in the income statement | 638 | 646 |
Translation differences | (170) | (49) |
Other movements | 7 | 51 |
Closing balance of assets/(liabilities) | 13 | 1,948 |
Increase (decrease) in financial assets | € 1,935 | € 767 |
Derivative Financial Instrum_15
Derivative Financial Instruments and Risk Management Policies - Breakdown of Derivatives and Expected Maturity Schedule (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about hedges [line items] | |||
Notional amount | € 109,267 | € 128,654 | |
Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (7,335) | 3,932 | |
Non-current derivative financial assets | (3,666) | (3,389) | |
Current derivative financial assets | (1,210) | (1,441) | |
Non-current derivative financial liabilities | 4,168 | 2,358 | |
Current derivative financial liabilities | 695 | 524 | |
Derivative asset (liability), net | (13) | (1,948) | € (1,181) |
Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (12,958) | (4,460) | |
Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (104) | 2,478 | |
Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (937) | 672 | |
Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 6,664 | 5,242 | |
Financial Instruments excluding Derivatives | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 680 | 1,013 | |
Non-current derivative financial assets | 0 | 0 | |
Current derivative financial assets | 0 | 0 | |
Non-current derivative financial liabilities | 705 | 1,043 | |
Current derivative financial liabilities | 0 | 0 | |
Derivative asset (liability), net | 705 | 1,043 | |
Financial Instruments excluding Derivatives | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Financial Instruments excluding Derivatives | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 59 | |
Financial Instruments excluding Derivatives | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 234 | |
Financial Instruments excluding Derivatives | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 680 | 720 | |
Exchange rate hedges | Financial Instruments excluding Derivatives | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 680 | 1,013 | |
Non-current derivative financial assets | 0 | 0 | |
Current derivative financial assets | 0 | 0 | |
Non-current derivative financial liabilities | 705 | 1,043 | |
Current derivative financial liabilities | 0 | 0 | |
Derivative asset (liability), net | 705 | 1,043 | |
Exchange rate hedges | Financial Instruments excluding Derivatives | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Exchange rate hedges | Financial Instruments excluding Derivatives | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 59 | |
Exchange rate hedges | Financial Instruments excluding Derivatives | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 234 | |
Exchange rate hedges | Financial Instruments excluding Derivatives | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 680 | 720 | |
Exchange rate hedges | Fair value hedges | Financial Instruments excluding Derivatives | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Non-current derivative financial assets | 0 | 0 | |
Current derivative financial assets | 0 | 0 | |
Non-current derivative financial liabilities | 0 | 0 | |
Current derivative financial liabilities | 0 | 0 | |
Derivative asset (liability), net | 0 | 0 | |
Exchange rate hedges | Fair value hedges | Financial Instruments excluding Derivatives | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Exchange rate hedges | Fair value hedges | Financial Instruments excluding Derivatives | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Exchange rate hedges | Fair value hedges | Financial Instruments excluding Derivatives | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Exchange rate hedges | Fair value hedges | Financial Instruments excluding Derivatives | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Exchange rate hedges | Net investment Hedges | Financial Instruments excluding Derivatives | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 680 | 1,013 | |
Non-current derivative financial assets | 0 | 0 | |
Current derivative financial assets | 0 | 0 | |
Non-current derivative financial liabilities | 705 | 1,043 | |
Current derivative financial liabilities | 0 | 0 | |
Derivative asset (liability), net | 705 | 1,043 | |
Exchange rate hedges | Net investment Hedges | Financial Instruments excluding Derivatives | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Exchange rate hedges | Net investment Hedges | Financial Instruments excluding Derivatives | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 59 | |
Exchange rate hedges | Net investment Hedges | Financial Instruments excluding Derivatives | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 234 | |
Exchange rate hedges | Net investment Hedges | Financial Instruments excluding Derivatives | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 680 | 720 | |
Designated as Hedging Instrument | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,365 | 10,652 | |
Non-current derivative financial assets | (2,958) | (2,676) | |
Current derivative financial assets | (827) | (1,104) | |
Non-current derivative financial liabilities | 3,459 | 1,667 | |
Current derivative financial liabilities | 196 | 254 | |
Derivative asset (liability), net | (130) | (1,859) | |
Designated as Hedging Instrument | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (5,576) | (662) | |
Designated as Hedging Instrument | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 415 | 2,827 | |
Designated as Hedging Instrument | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (679) | 1,446 | |
Designated as Hedging Instrument | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 8,205 | 7,041 | |
Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (4,307) | (309) | |
Non-current derivative financial assets | (1,196) | (584) | |
Current derivative financial assets | (524) | (289) | |
Non-current derivative financial liabilities | 79 | 41 | |
Current derivative financial liabilities | 6 | 38 | |
Derivative asset (liability), net | (1,635) | (794) | |
Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (348) | 677 | |
Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (491) | (199) | |
Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (801) | 818 | |
Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (2,667) | (1,605) | |
Designated as Hedging Instrument | Interest rate hedges | Cash flow hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,062 | 2,769 | |
Non-current derivative financial assets | (2) | (8) | |
Current derivative financial assets | (3) | (4) | |
Non-current derivative financial liabilities | 69 | 29 | |
Current derivative financial liabilities | 6 | 38 | |
Derivative asset (liability), net | 70 | 55 | |
Designated as Hedging Instrument | Interest rate hedges | Cash flow hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1 | 482 | |
Designated as Hedging Instrument | Interest rate hedges | Cash flow hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 67 | 0 | |
Designated as Hedging Instrument | Interest rate hedges | Cash flow hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 1,403 | |
Designated as Hedging Instrument | Interest rate hedges | Cash flow hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 994 | 884 | |
Designated as Hedging Instrument | Interest rate hedges | Fair value hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (5,369) | (3,078) | |
Non-current derivative financial assets | (1,194) | (576) | |
Current derivative financial assets | (521) | (285) | |
Non-current derivative financial liabilities | 10 | 12 | |
Current derivative financial liabilities | 0 | 0 | |
Derivative asset (liability), net | (1,705) | (849) | |
Designated as Hedging Instrument | Interest rate hedges | Fair value hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (349) | 195 | |
Designated as Hedging Instrument | Interest rate hedges | Fair value hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (558) | (199) | |
Designated as Hedging Instrument | Interest rate hedges | Fair value hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (801) | (585) | |
Designated as Hedging Instrument | Interest rate hedges | Fair value hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (3,661) | (2,489) | |
Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,597 | 5,140 | |
Non-current derivative financial assets | (1,361) | (1,489) | |
Current derivative financial assets | (162) | (389) | |
Non-current derivative financial liabilities | 2,607 | 1,339 | |
Current derivative financial liabilities | 147 | 148 | |
Derivative asset (liability), net | 1,231 | (391) | |
Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (5,362) | (2,331) | |
Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 717 | 1,038 | |
Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 400 | |
Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 8,242 | 6,033 | |
Designated as Hedging Instrument | Exchange rate hedges | Cash flow hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 9,801 | 9,408 | |
Non-current derivative financial assets | (1,361) | (1,325) | |
Current derivative financial assets | (91) | (348) | |
Non-current derivative financial liabilities | 2,607 | 1,337 | |
Current derivative financial liabilities | 72 | 37 | |
Derivative asset (liability), net | 1,227 | (299) | |
Designated as Hedging Instrument | Exchange rate hedges | Cash flow hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 848 | 1,587 | |
Designated as Hedging Instrument | Exchange rate hedges | Cash flow hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 711 | 1,102 | |
Designated as Hedging Instrument | Exchange rate hedges | Cash flow hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 686 | |
Designated as Hedging Instrument | Exchange rate hedges | Cash flow hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 8,242 | 6,033 | |
Designated as Hedging Instrument | Exchange rate hedges | Fair value hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 150 | 407 | |
Non-current derivative financial assets | 0 | (164) | |
Current derivative financial assets | (6) | (21) | |
Non-current derivative financial liabilities | 0 | 0 | |
Current derivative financial liabilities | 9 | 15 | |
Derivative asset (liability), net | 3 | (170) | |
Designated as Hedging Instrument | Exchange rate hedges | Fair value hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 144 | 693 | |
Designated as Hedging Instrument | Exchange rate hedges | Fair value hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 6 | 0 | |
Designated as Hedging Instrument | Exchange rate hedges | Fair value hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | (286) | |
Designated as Hedging Instrument | Exchange rate hedges | Fair value hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Designated as Hedging Instrument | Exchange rate hedges | Net investment Hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (6,354) | (4,675) | |
Non-current derivative financial assets | 0 | 0 | |
Current derivative financial assets | (65) | (20) | |
Non-current derivative financial liabilities | 0 | 2 | |
Current derivative financial liabilities | 66 | 96 | |
Derivative asset (liability), net | 1 | 78 | |
Designated as Hedging Instrument | Exchange rate hedges | Net investment Hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (6,354) | (4,611) | |
Designated as Hedging Instrument | Exchange rate hedges | Net investment Hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | (64) | |
Designated as Hedging Instrument | Exchange rate hedges | Net investment Hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Designated as Hedging Instrument | Exchange rate hedges | Net investment Hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,075 | 5,821 | |
Non-current derivative financial assets | (401) | (603) | |
Current derivative financial assets | (141) | (426) | |
Non-current derivative financial liabilities | 773 | 287 | |
Current derivative financial liabilities | 43 | 68 | |
Derivative asset (liability), net | 274 | (674) | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 134 | 992 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 189 | 1,988 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 122 | 228 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,630 | 2,613 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Cash flow hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,734 | 5,888 | |
Non-current derivative financial assets | (232) | (549) | |
Current derivative financial assets | (93) | (409) | |
Non-current derivative financial liabilities | 748 | 287 | |
Current derivative financial liabilities | 2 | 65 | |
Derivative asset (liability), net | 425 | (606) | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Cash flow hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 247 | 1,006 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Cash flow hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 189 | 2,004 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Cash flow hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 668 | 230 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Cash flow hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,630 | 2,648 | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Fair value hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (659) | (67) | |
Non-current derivative financial assets | (169) | (54) | |
Current derivative financial assets | (48) | (17) | |
Non-current derivative financial liabilities | 25 | 0 | |
Current derivative financial liabilities | 41 | 3 | |
Derivative asset (liability), net | (151) | (68) | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Fair value hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (113) | (14) | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Fair value hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | (16) | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Fair value hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (546) | (2) | |
Designated as Hedging Instrument | Interest and exchange rate hedges | Fair value hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | (35) | |
Not Designated as Hedging Instrument | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (9,700) | (6,720) | |
Non-current derivative financial assets | (708) | (713) | |
Current derivative financial assets | (383) | (337) | |
Non-current derivative financial liabilities | 709 | 691 | |
Current derivative financial liabilities | 499 | 270 | |
Derivative asset (liability), net | 117 | (89) | |
Not Designated as Hedging Instrument | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (7,382) | (3,798) | |
Not Designated as Hedging Instrument | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (519) | (349) | |
Not Designated as Hedging Instrument | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (258) | (774) | |
Not Designated as Hedging Instrument | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (1,541) | (1,799) | |
Not Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (6,759) | (4,547) | |
Non-current derivative financial assets | (629) | (713) | |
Current derivative financial assets | (141) | (316) | |
Non-current derivative financial liabilities | 625 | 688 | |
Current derivative financial liabilities | 2 | 146 | |
Derivative asset (liability), net | (143) | (195) | |
Not Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (4,287) | (1,501) | |
Not Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (673) | (473) | |
Not Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (258) | (774) | |
Not Designated as Hedging Instrument | Interest rate hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (1,541) | (1,799) | |
Not Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (3,856) | (2,484) | |
Non-current derivative financial assets | (79) | 0 | |
Current derivative financial assets | (240) | (21) | |
Non-current derivative financial liabilities | 84 | 0 | |
Current derivative financial liabilities | 239 | 113 | |
Derivative asset (liability), net | 4 | 92 | |
Not Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | (3,856) | (2,484) | |
Not Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Not Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Not Designated as Hedging Instrument | Exchange rate hedges | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Not Designated as Hedging Instrument | Others | Derivative instruments | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 915 | 311 | |
Non-current derivative financial assets | 0 | 0 | |
Current derivative financial assets | (2) | 0 | |
Non-current derivative financial liabilities | 0 | 3 | |
Current derivative financial liabilities | 258 | 11 | |
Derivative asset (liability), net | 256 | 14 | |
Not Designated as Hedging Instrument | Others | Derivative instruments | Within one year | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 761 | 187 | |
Not Designated as Hedging Instrument | Others | Derivative instruments | Two years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 154 | 124 | |
Not Designated as Hedging Instrument | Others | Derivative instruments | Three years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Not Designated as Hedging Instrument | Others | Derivative instruments | Subsequent years | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 0 | 0 | |
Loans and Other Debts | Financial Instruments excluding Derivatives | |||
Disclosure of detailed information about hedges [line items] | |||
Non-current derivative financial liabilities | 122 | 251 | |
Obligations and Bonds | Financial Instruments excluding Derivatives | |||
Disclosure of detailed information about hedges [line items] | |||
Non-current derivative financial liabilities | € 583 | € 792 |
Derivative Financial Instrum_16
Derivative Financial Instruments and Risk Management Policies - Details about Hedged Items by Fair Value Hedges (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | € 105,051 | € 118,877 |
Financial assets and other non-current assets | 7,270 | 7,123 |
Receivables and other current assets | 7,523 | 10,785 |
Other current financial assets | 2,495 | 3,123 |
Non-current financial liabilities | 42,297 | 43,288 |
Non-current lease liabilities | 4,039 | 5,626 |
Payables and other non-current liabilities | 2,561 | 2,928 |
Current financial liabilities | 8,123 | 9,076 |
Payables and other current liabilities | 10,912 | 14,903 |
Designated as Hedging Instrument | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | 220 | 477 |
Financial assets and other non-current assets | 82 | 151 |
Receivables and other current assets | 132 | 323 |
Other current financial assets | 3 | |
Other heading of assets | 6 | |
Total allocated liabilities | 11,193 | 11,588 |
Non-current financial liabilities | 10,191 | 10,546 |
Non-current lease liabilities | 59 | |
Payables and other non-current liabilities | 32 | 99 |
Current financial liabilities | 476 | 271 |
Payables and other current liabilities | 435 | 672 |
Designated as Hedging Instrument | Fair value hedges | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | (6) | 1 |
Financial assets and other non-current assets | (1) | 0 |
Receivables and other current assets | (5) | 1 |
Other current financial assets | 0 | |
Other heading of assets | 0 | |
Total allocated liabilities | 2,058 | 1,587 |
Non-current financial liabilities | 2,033 | 1,567 |
Non-current lease liabilities | 0 | |
Payables and other non-current liabilities | 2 | 0 |
Current financial liabilities | 16 | 26 |
Payables and other current liabilities | 7 | (6) |
Designated as Hedging Instrument | Interest rate risk | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | 0 | 0 |
Financial assets and other non-current assets | 0 | 0 |
Receivables and other current assets | 0 | 0 |
Other current financial assets | 0 | |
Other heading of assets | 0 | |
Total allocated liabilities | 6,888 | 3,929 |
Non-current financial liabilities | 6,656 | 3,858 |
Non-current lease liabilities | 0 | |
Payables and other non-current liabilities | 4 | 0 |
Current financial liabilities | 228 | 71 |
Payables and other current liabilities | 0 | 0 |
Designated as Hedging Instrument | Interest rate risk | Fair value hedges | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | 0 | 0 |
Financial assets and other non-current assets | 0 | 0 |
Receivables and other current assets | 0 | 0 |
Other current financial assets | 0 | |
Other heading of assets | 0 | |
Total allocated liabilities | 1,663 | 819 |
Non-current financial liabilities | 1,660 | 817 |
Non-current lease liabilities | 0 | |
Payables and other non-current liabilities | 0 | 0 |
Current financial liabilities | 3 | 2 |
Payables and other current liabilities | 0 | 0 |
Designated as Hedging Instrument | Exchange rate risk | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | 220 | 474 |
Financial assets and other non-current assets | 82 | 151 |
Receivables and other current assets | 132 | 323 |
Other current financial assets | 0 | |
Other heading of assets | 6 | |
Total allocated liabilities | 1,320 | 1,956 |
Non-current financial liabilities | 787 | 1,176 |
Non-current lease liabilities | 59 | |
Payables and other non-current liabilities | 28 | 99 |
Current financial liabilities | 11 | 9 |
Payables and other current liabilities | 435 | 672 |
Designated as Hedging Instrument | Exchange rate risk | Fair value hedges | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | (6) | 1 |
Financial assets and other non-current assets | (1) | 0 |
Receivables and other current assets | (5) | 1 |
Other current financial assets | 0 | |
Other heading of assets | 0 | |
Total allocated liabilities | 9 | (6) |
Non-current financial liabilities | 0 | 0 |
Non-current lease liabilities | 0 | |
Payables and other non-current liabilities | 2 | 0 |
Current financial liabilities | 0 | 0 |
Payables and other current liabilities | 7 | (6) |
Designated as Hedging Instrument | Interest rate and exchange rate risk | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | 0 | 3 |
Financial assets and other non-current assets | 0 | 0 |
Receivables and other current assets | 0 | 0 |
Other current financial assets | 3 | |
Other heading of assets | 0 | |
Total allocated liabilities | 2,985 | 5,703 |
Non-current financial liabilities | 2,748 | 5,512 |
Non-current lease liabilities | 0 | |
Payables and other non-current liabilities | 0 | 0 |
Current financial liabilities | 237 | 191 |
Payables and other current liabilities | 0 | 0 |
Designated as Hedging Instrument | Interest rate and exchange rate risk | Fair value hedges | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | 0 | 0 |
Financial assets and other non-current assets | 0 | 0 |
Receivables and other current assets | 0 | 0 |
Other current financial assets | 0 | |
Other heading of assets | 0 | |
Total allocated liabilities | 386 | 774 |
Non-current financial liabilities | 373 | 750 |
Non-current lease liabilities | 0 | |
Payables and other non-current liabilities | 0 | 0 |
Current financial liabilities | 13 | 24 |
Payables and other current liabilities | 0 | 0 |
Hedged Items that have Ceased to be Adjusted for Gains and Losses | Designated as Hedging Instrument | Fair value hedges | ||
Disclosure of detailed information about hedged items [line items] | ||
Total allocated assets | 0 | 0 |
Financial assets and other non-current assets | 0 | 0 |
Receivables and other current assets | 0 | 0 |
Other current financial assets | 0 | |
Other heading of assets | 0 | |
Total allocated liabilities | 71 | 152 |
Non-current financial liabilities | 70 | 125 |
Non-current lease liabilities | 0 | |
Payables and other non-current liabilities | 0 | 0 |
Current financial liabilities | 5 | 6 |
Payables and other current liabilities | € (4) | € 21 |
Derivative Financial Instrum_17
Derivative Financial Instruments and Risk Management Policies - Evolution of Hedges in Equity (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | € 502 | € 560 |
Changes in the fair value registered in equity | (571) | 273 |
Transfer to the initial value of hedged item | (1) | (6) |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 26 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 718 | (351) |
Total translation differences | (2) | 0 |
Other movements | 0 | 0 |
Balance of hedges in equity at end of period | 646 | 502 |
Derivative instruments | Net investment Hedges | ||
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | 1,349 | 1,535 |
Changes in the fair value registered in equity | 713 | (260) |
Transfer to the initial value of hedged item | 0 | 0 |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 0 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 0 | 73 |
Total translation differences | (1) | 1 |
Other movements | 0 | 0 |
Balance of hedges in equity at end of period | 2,061 | 1,349 |
Amounts remaining in equity for continuing hedges | 2,061 | 1,349 |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | 0 | 0 |
Derivative instruments | Interest rate risk | Cash flow hedges | ||
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | (148) | (295) |
Changes in the fair value registered in equity | (71) | (5) |
Transfer to the initial value of hedged item | 3 | 2 |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 26 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 67 | 124 |
Total translation differences | (1) | 0 |
Other movements | (4) | 0 |
Balance of hedges in equity at end of period | (154) | (148) |
Amounts remaining in equity for continuing hedges | (68) | (12) |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | (86) | (136) |
Derivative instruments | Exchange rate risk | Cash flow hedges | ||
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | (156) | (348) |
Changes in the fair value registered in equity | (923) | 572 |
Transfer to the initial value of hedged item | (1) | (4) |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 0 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 633 | (371) |
Total translation differences | 0 | (1) |
Other movements | 4 | (4) |
Balance of hedges in equity at end of period | (443) | (156) |
Amounts remaining in equity for continuing hedges | (478) | (188) |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | 35 | 32 |
Derivative instruments | Interest rate and exchange rate risk | Cash flow hedges | ||
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | (310) | (78) |
Changes in the fair value registered in equity | (476) | 67 |
Transfer to the initial value of hedged item | (4) | (7) |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 0 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 267 | (295) |
Total translation differences | 0 | 0 |
Other movements | 0 | 3 |
Balance of hedges in equity at end of period | (523) | (310) |
Amounts remaining in equity for continuing hedges | (433) | (216) |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | (90) | (94) |
Financial Instruments excluding Derivatives | Net investment Hedges | ||
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | (6) | (5) |
Changes in the fair value registered in equity | 6 | (1) |
Transfer to the initial value of hedged item | 0 | 0 |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 0 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 0 | 0 |
Total translation differences | 0 | 0 |
Other movements | 0 | 0 |
Balance of hedges in equity at end of period | 0 | (6) |
Amounts remaining in equity for continuing hedges | 0 | (6) |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | 0 | 0 |
Total gross amount | ||
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | 729 | 809 |
Changes in the fair value registered in equity | (751) | 373 |
Transfer to the initial value of hedged item | (2) | (9) |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 26 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 967 | (469) |
Total translation differences | (2) | 0 |
Other movements | 0 | (1) |
Balance of hedges in equity at end of period | 941 | 729 |
Amounts remaining in equity for continuing hedges | 1,082 | 927 |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | (141) | (198) |
Tax effect | ||
Changes in Hedges in Equity [Roll Forward] | ||
Balance of hedges in equity at beginning of period | (227) | (249) |
Changes in the fair value registered in equity | 180 | (100) |
Transfer to the initial value of hedged item | 1 | 3 |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | 0 | 0 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | (249) | 118 |
Total translation differences | 0 | 0 |
Other movements | 0 | 1 |
Balance of hedges in equity at end of period | (295) | (227) |
Interest Expense | Derivative instruments | Interest rate risk | Cash flow hedges | ||
Changes in Hedges in Equity [Roll Forward] | ||
Transfer to the income statement of the period - the hedged item has affected profit or loss | 116 | 166 |
Interest Expense | Derivative instruments | Exchange rate risk | Cash flow hedges | ||
Changes in Hedges in Equity [Roll Forward] | ||
Transfer to the income statement of the period - the hedged item has affected profit or loss | € (1,093) | € 369 |
Derivative Financial Instrum_18
Derivative Financial Instruments and Risk Management Policies - Evolution of Cost of Hedges in Equity (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Changes in Cost of Hedging in Equity [Roll Forward] | ||
Balance of cost of hedging in equity at beginning of period | € 24 | € 37 |
Changes in the fair value registered in equity | (74) | (10) |
Transfer to the income statement of the period - the hedged item has affected profit or loss | (6) | (3) |
Balance of cost of hedging in equity at end of period | (56) | 24 |
Exchange rate risk | ||
Changes in Cost of Hedging in Equity [Roll Forward] | ||
Balance of cost of hedging in equity at beginning of period | 31 | 49 |
Changes in the fair value registered in equity | (98) | (14) |
Transfer to the income statement of the period - the hedged item has affected profit or loss | (8) | (4) |
Balance of cost of hedging in equity at end of period | (75) | 31 |
Total gross amount | ||
Changes in Cost of Hedging in Equity [Roll Forward] | ||
Balance of cost of hedging in equity at beginning of period | 31 | 49 |
Changes in the fair value registered in equity | (98) | (14) |
Transfer to the income statement of the period - the hedged item has affected profit or loss | (8) | (4) |
Balance of cost of hedging in equity at end of period | (75) | 31 |
Tax effect | ||
Changes in Cost of Hedging in Equity [Roll Forward] | ||
Balance of cost of hedging in equity at beginning of period | (7) | (12) |
Changes in the fair value registered in equity | 24 | 4 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 2 | 1 |
Balance of cost of hedging in equity at end of period | € 19 | € (7) |
Derivative Financial Instrum_19
Derivative Financial Instruments and Risk Management Policies - Ineffective Portion of Accounting Hedges (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | € (410) | € 748 |
Changes in the fair value of hedges item for the hedged risk | (454) | 768 |
Ineffective portion hedged registered in the income statement | 44 | (20) |
Interest rate risk | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | 289 | 315 |
Changes in the fair value of hedges item for the hedged risk | 288 | 336 |
Ineffective portion hedged registered in the income statement | 1 | (21) |
Interest rate risk | Cash flow hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | (22) | (129) |
Changes in the fair value of hedges item for the hedged risk | (23) | (108) |
Ineffective portion hedged registered in the income statement | 1 | (21) |
Interest rate risk | Fair value hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | 311 | 444 |
Changes in the fair value of hedges item for the hedged risk | 311 | 444 |
Ineffective portion hedged registered in the income statement | 0 | 0 |
Exchange rate risk | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | (461) | 242 |
Changes in the fair value of hedges item for the hedged risk | (508) | 238 |
Ineffective portion hedged registered in the income statement | 47 | 4 |
Exchange rate risk | Cash flow hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | (917) | 551 |
Changes in the fair value of hedges item for the hedged risk | (964) | 547 |
Ineffective portion hedged registered in the income statement | 47 | 4 |
Exchange rate risk | Net investment hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | 456 | (309) |
Changes in the fair value of hedges item for the hedged risk | 456 | (309) |
Ineffective portion hedged registered in the income statement | 0 | 0 |
Interest rate and exchange rate risk | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | (238) | 191 |
Changes in the fair value of hedges item for the hedged risk | (234) | 194 |
Ineffective portion hedged registered in the income statement | (4) | (3) |
Interest rate and exchange rate risk | Cash flow hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Changes in fair value of the hedging instrument | (238) | 191 |
Changes in the fair value of hedges item for the hedged risk | (234) | 194 |
Ineffective portion hedged registered in the income statement | € (4) | € (3) |
Lease Liabilities - Movement of
Lease Liabilities - Movement of Lease Liabilities (Details) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | |
Movement of Lease Liabilities [Roll Forward] | |||||
Balance before initial application impacts due to accounting changes | € 7,226 | € 7,226 | € 5,294 | € 7,226 | € 7,705 |
First application impacts due to accounting changes IFRS16 (Note 2) | € 7,705 | ||||
Balance at beginning of period | 7,226 | 0 | |||
Additions | 1,969 | 1,474 | |||
Principal and interests payments | 1,761 | 1,654 | |||
Principal payments (Note 28) | (1,787) | (1,518) | |||
Interests payments (Note 28) | (179) | (185) | |||
Minus: Payments of companies held for sale and sold companies during 2019 | 205 | 49 | |||
Disposals | (387) | (261) | |||
Exclusion of companies | 0 | (121) | |||
Accrued interests | 178 | 199 | |||
Translation differences and hyperinflation adjustments | (766) | 23 | |||
Transfers and others | (1,165) | (139) | |||
Balance at end of period | € 5,294 | € 7,226 | |||
Accrued interests of lease liabilities including held-for-sale | € 193 | € 213 |
Lease Liabilities - Narrative (
Lease Liabilities - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Additions related to fixed asset sale and leaseback transactions | € 53 | € 190 |
Capital gains arising from sale and leaseback transactions | 79 | 313 |
Transfers and others | 1,165 | 139 |
Exclusion of companies, right-of-use assets | 121 | |
Lease liabilities not yet commenced | 181 | 63 |
Telefónica United Kingdom | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Transfers and others | 637 | |
Telxius Group | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Transfers and others | € 570 | |
Telefónica de Costa Rica TC, S.A. | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Transfers and others | 127 | |
Telefónica Móviles Panamá, S.A. | Telefónica Móviles Panamá, S.A. | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Exclusion of companies, right-of-use assets | 47 | |
Telefonía Celular de Nicaragua, S.A. | Telefonía Celular de Nicaragua, S.A. | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Exclusion of companies, right-of-use assets | € 74 |
Lease Liabilities - Maturity Sc
Lease Liabilities - Maturity Schedule of Lease Liabilities (Details) € in Millions | Dec. 31, 2020EUR (€) |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | € 5,979 |
2021 | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 1,330 |
2022 | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 1,052 |
2023 | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 935 |
2024 | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 747 |
2025 | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 569 |
Subsequent years | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | 1,346 |
Non-current total | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Lease liabilities | € 4,649 |
Payables and Other Non-curren_3
Payables and Other Non-current Liabilities - Composition of Trade and Other Payables (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Payables | € 1,452 | € 1,553 |
Trade payables | 101 | 86 |
Payables for spectrum acquisition | 1,195 | 1,362 |
Other payables | 156 | 105 |
Other non-current liabilities | 1,109 | 1,375 |
Contractual liabilities (Note 23) | 762 | 851 |
Deferred revenue | 193 | 336 |
Current tax payables | 154 | 188 |
Total | € 2,561 | € 2,928 |
Payables and Other Non-curren_4
Payables and Other Non-current Liabilities - Narrative (Details) - EUR (€) € in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Trade And Other Payables [Line Items] | ||||
Additions | € 1,111 | € 2,727 | ||
Outstanding balance | 38,880 | |||
Non-current portion of non-current borrowings | € 1,362 | 1,195 | 1,362 | |
Non-current government grants | 150 | 64 | 150 | |
Licenses | ||||
Trade And Other Payables [Line Items] | ||||
Additions | 32 | 25 | ||
Payment on borrowings | 147 | 146 | ||
Telefónica México | Spectrum | Licenses | ||||
Trade And Other Payables [Line Items] | ||||
Payment on borrowings | 1 | 37 | ||
Non-current portion of non-current borrowings | 90 | 85 | 90 | |
Telefónica Germany | Licenses | ||||
Trade And Other Payables [Line Items] | ||||
Additions | € 1,425 | |||
Payment on borrowings | 87 | 87 | ||
Outstanding balance | 1,272 | 1,196 | 1,272 | |
Non-current portion of non-current borrowings | € 1,186 | € 1,089 | € 1,186 |
Payables and Other Current Li_3
Payables and Other Current Liabilities - Composition of Payables And Other Current Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Payables | € 9,626 | € 13,307 |
Trade payables | 5,913 | 8,095 |
Payables to suppliers of property, plant and equipment | 2,428 | 3,019 |
Payables for spectrum acquisition | 178 | 196 |
Other payables | 881 | 1,081 |
Dividends pending payment | 215 | 282 |
Associates and joint ventures payables (Note 10) | 11 | 634 |
Other current liabilities | 1,286 | 1,596 |
Contract liabilities (Note 23) | 976 | 1,283 |
Deferred revenue | 93 | 120 |
Advances received | 217 | 193 |
Total | € 10,912 | € 14,903 |
Payables and Other Current Li_4
Payables and Other Current Liabilities - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Trade And Other Payables [Line Items] | ||
Payables for spectrum acquisition | € 178 | € 196 |
Current government grants | 13 | 15 |
Telefónica Germany | Spectrum swap | Service concession arrangements and licenses | ||
Trade And Other Payables [Line Items] | ||
Payables for spectrum acquisition | 107 | 86 |
Telefónica México | Spectrum swap | Service concession arrangements and licenses | ||
Trade And Other Payables [Line Items] | ||
Payables for spectrum acquisition | € 34 | € 64 |
Telefonica, S.A. | ||
Trade And Other Payables [Line Items] | ||
Weighted average maturity period | 53 days | 53 days |
Payables and Other Current Li_5
Payables and Other Current Liabilities - Composition of Other Payables (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Accrued employee benefits | € 465 | € 603 |
Other non-financial non-trade payables | 416 | 478 |
Total | € 881 | € 1,081 |
Payables and Other Current Li_6
Payables and Other Current Liabilities - Information on Average Payment Period to Suppliers (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Payments to Suppliers [Line Items] | |||
Total payments | € 31,080 | € 35,450 | € 37,044 |
Telefonica, S.A. | |||
Payments to Suppliers [Line Items] | |||
Weighted average maturity period | 53 days | 53 days | |
Ratio of payments | 55 days | 55 days | |
Ratio of outstanding invoices | 40 days | 38 days | |
Total payments | € 7,311 | € 7,337 | |
Outstanding invoices | € 1,164 | € 1,152 |
Breakdown of Contractual Asse_3
Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Movement in Contract Assets and Liabilities (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Contract assets [abstract] | |||
Contract assets, beginning balance | € 249 | € 489 | € 449 |
Additions | 484 | 866 | |
Disposals | (398) | (823) | |
Transfers | (299) | (16) | |
Translation differences and hyperinflation adjustments | (27) | 14 | |
Other movements | 0 | (1) | |
Contract assets, ending balance | 249 | 489 | |
Contract liabilities [abstract] | |||
Contract liabilities, beginning balance | 2,134 | 1,948 | |
Additions | 5,563 | 7,925 | |
Disposals (previous years) | (670) | (601) | |
Disposals (current year) | (4,647) | (7,153) | |
Transfers | (551) | (15) | |
Translation differences and hyperinflation adjustments | (91) | 34 | |
Other movements | 0 | (4) | |
Contract liabilities, ending balance | 1,738 | 2,134 | |
Long-term contracts | |||
Contract assets [abstract] | |||
Contract assets, beginning balance | 145 | 138 | 108 |
Additions | 212 | 204 | |
Disposals | (6) | (7) | |
Transfers | (196) | (172) | |
Translation differences and hyperinflation adjustments | (3) | 5 | |
Other movements | 0 | 0 | |
Contract assets, ending balance | 145 | 138 | |
Contract liabilities [abstract] | |||
Contract liabilities, beginning balance | 851 | 613 | |
Additions | 452 | 409 | |
Disposals (previous years) | (15) | (3) | |
Disposals (current year) | 0 | (4) | |
Transfers | (495) | (180) | |
Translation differences and hyperinflation adjustments | (31) | 16 | |
Other movements | 0 | 0 | |
Contract liabilities, ending balance | 762 | 851 | |
Long-term contracts | Gross cost | |||
Contract assets [abstract] | |||
Contract assets, beginning balance | 146 | 144 | 114 |
Additions | 213 | 204 | |
Disposals | (6) | (7) | |
Transfers | (202) | (173) | |
Translation differences and hyperinflation adjustments | (3) | 5 | |
Other movements | 0 | 1 | |
Contract assets, ending balance | 146 | 144 | |
Long-term contracts | Impairment losses | |||
Contract assets [abstract] | |||
Contract assets, beginning balance | (1) | (6) | (6) |
Additions | (1) | 0 | |
Disposals | 0 | 0 | |
Transfers | 6 | 1 | |
Translation differences and hyperinflation adjustments | 0 | 0 | |
Other movements | 0 | (1) | |
Contract assets, ending balance | (1) | (6) | |
Short-term contracts | |||
Contract assets [abstract] | |||
Contract assets, beginning balance | 104 | 351 | 341 |
Additions | 272 | 662 | |
Disposals | (392) | (816) | |
Transfers | (103) | 156 | |
Translation differences and hyperinflation adjustments | (24) | 9 | |
Other movements | 0 | (1) | |
Contract assets, ending balance | 104 | 351 | |
Contract liabilities [abstract] | |||
Contract liabilities, beginning balance | 1,283 | 1,335 | |
Additions | 5,111 | 7,516 | |
Disposals (previous years) | (655) | (598) | |
Disposals (current year) | (4,647) | (7,149) | |
Transfers | (56) | 165 | |
Translation differences and hyperinflation adjustments | (60) | 18 | |
Other movements | 0 | (4) | |
Contract liabilities, ending balance | 976 | 1,283 | |
Short-term contracts | Gross cost | |||
Contract assets [abstract] | |||
Contract assets, beginning balance | 113 | 381 | 364 |
Additions | 275 | 677 | |
Disposals | (400) | (824) | |
Transfers | (116) | 157 | |
Translation differences and hyperinflation adjustments | (27) | 9 | |
Other movements | 0 | (2) | |
Contract assets, ending balance | 113 | 381 | |
Short-term contracts | Impairment losses | |||
Contract assets [abstract] | |||
Contract assets, beginning balance | (9) | (30) | € (23) |
Additions | (3) | (15) | |
Disposals | 8 | 8 | |
Transfers | 13 | (1) | |
Translation differences and hyperinflation adjustments | 3 | 0 | |
Other movements | 0 | 1 | |
Contract assets, ending balance | € (9) | € (30) |
Breakdown of Contractual Asse_4
Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Contract Assets And Liabilities [Line Items] | |||||
Assets recognised from costs to obtain or fulfil contracts with customers with indefinite durations | € 95 | ||||
Allocation to profit or loss for assets recognised from costs to obtain or fulfil contracts with customers with indefinite durations | 7 | ||||
Transfers | (551) | € (15) | |||
Telefónica United Kingdom | Non-current assets and disposal groups classified as held for sale | |||||
Contract Assets And Liabilities [Line Items] | |||||
Transfers | 318 | ||||
Telefónica United Kingdom | Liabilities associated with non-current assets and disposal groups classified as held for sale | |||||
Contract Assets And Liabilities [Line Items] | |||||
Transfers | € 529 | ||||
Forecast | |||||
Contract Assets And Liabilities [Line Items] | |||||
Allocation to profit or loss for assets recognised from costs to obtain or fulfil contracts with customers with indefinite durations | € 19 | € 28 | € 29 | ||
Minimum | |||||
Contract Assets And Liabilities [Line Items] | |||||
Period for allocation to profit or loss for assets recognised from costs to obtain or fulfil contracts with customers with indefinite durations | 3 years | ||||
Maximum | |||||
Contract Assets And Liabilities [Line Items] | |||||
Period for allocation to profit or loss for assets recognised from costs to obtain or fulfil contracts with customers with indefinite durations | 5 years |
Breakdown of Contractual Asse_5
Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Movement in Deferred Expenses (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | € 846 | € 757 |
Additions | 905 | 886 |
Disposals | (776) | (799) |
Transfers | (16) | (2) |
Translation differences and hyperinflation adjustments | (48) | 5 |
Other movements | 0 | (1) |
Capitalized costs, ending balance | 911 | 846 |
Long-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 221 | 191 |
Additions | 446 | 413 |
Disposals | (2) | (3) |
Transfers | (318) | (381) |
Translation differences and hyperinflation adjustments | (16) | 0 |
Other movements | 0 | 1 |
Capitalized costs, ending balance | 331 | 221 |
Short-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 625 | 566 |
Additions | 459 | 473 |
Disposals | (774) | (796) |
Transfers | 302 | 379 |
Translation differences and hyperinflation adjustments | (32) | 5 |
Other movements | 0 | (2) |
Capitalized costs, ending balance | 580 | 625 |
Impairment losses | Long-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 0 | 0 |
Additions | 0 | 0 |
Disposals | 0 | 0 |
Transfers | 0 | 0 |
Translation differences and hyperinflation adjustments | 0 | 0 |
Other movements | 0 | 0 |
Capitalized costs, ending balance | 0 | 0 |
Impairment losses | Short-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 0 | 0 |
Additions | 0 | 0 |
Disposals | 0 | 0 |
Transfers | 0 | 0 |
Translation differences and hyperinflation adjustments | 0 | 0 |
Other movements | 0 | 0 |
Capitalized costs, ending balance | 0 | 0 |
Of obtaining a contract | Gross cost | Long-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 191 | 178 |
Additions | 369 | 368 |
Disposals | (2) | (3) |
Transfers | (337) | (353) |
Translation differences and hyperinflation adjustments | (9) | 1 |
Other movements | 0 | 0 |
Capitalized costs, ending balance | 212 | 191 |
Of obtaining a contract | Gross cost | Short-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 573 | 541 |
Additions | 361 | 428 |
Disposals | (652) | (752) |
Transfers | 210 | 351 |
Translation differences and hyperinflation adjustments | (23) | 6 |
Other movements | 0 | (1) |
Capitalized costs, ending balance | 469 | 573 |
Of fulfilling a contract | Gross cost | Long-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 30 | 13 |
Additions | 77 | 45 |
Disposals | 0 | 0 |
Transfers | 19 | (28) |
Translation differences and hyperinflation adjustments | (7) | (1) |
Other movements | 0 | 1 |
Capitalized costs, ending balance | 119 | 30 |
Of fulfilling a contract | Gross cost | Short-term contracts | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Capitalized costs, beginning balance | 52 | 25 |
Additions | 98 | 45 |
Disposals | (122) | (44) |
Transfers | 92 | 28 |
Translation differences and hyperinflation adjustments | (9) | (1) |
Other movements | 0 | (1) |
Capitalized costs, ending balance | € 111 | € 52 |
Breakdown of Contractual Asse_6
Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Maturity Schedule of Contractual Liabilities (Details) € in Millions | Dec. 31, 2020EUR (€) |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | € 1,738 |
Activation Fees | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 78 |
Sales of Prepay Cards | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 469 |
Services | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 508 |
Sales of Handsets | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 22 |
Sales of Other Equipments | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 7 |
Irrevocable Rights to Use | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 558 |
Other | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 96 |
2021 | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 976 |
2021 | Activation Fees | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 62 |
2021 | Sales of Prepay Cards | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 469 |
2021 | Services | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 338 |
2021 | Sales of Handsets | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 20 |
2021 | Sales of Other Equipments | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 2 |
2021 | Irrevocable Rights to Use | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 55 |
2021 | Other | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 30 |
2022 | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 262 |
2022 | Activation Fees | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 10 |
2022 | Sales of Prepay Cards | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 0 |
2022 | Services | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 155 |
2022 | Sales of Handsets | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 2 |
2022 | Sales of Other Equipments | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 0 |
2022 | Irrevocable Rights to Use | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 49 |
2022 | Other | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 46 |
2023 | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 53 |
2023 | Activation Fees | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 3 |
2023 | Sales of Prepay Cards | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 0 |
2023 | Services | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 1 |
2023 | Sales of Handsets | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 0 |
2023 | Sales of Other Equipments | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 0 |
2023 | Irrevocable Rights to Use | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 46 |
2023 | Other | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 3 |
Subsequent years | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 447 |
Subsequent years | Activation Fees | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 3 |
Subsequent years | Sales of Prepay Cards | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 0 |
Subsequent years | Services | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 14 |
Subsequent years | Sales of Handsets | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 0 |
Subsequent years | Sales of Other Equipments | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 5 |
Subsequent years | Irrevocable Rights to Use | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | 408 |
Subsequent years | Other | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Maturity of performance obligations | € 17 |
Provisions - Amounts of Provisi
Provisions - Amounts of Provisions (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Current | |||
Employee benefits | € 930 | € 1,110 | |
Termination plans | 306 | 486 | |
Post-employment defined benefit plans | 8 | 11 | |
Other benefits | 616 | 613 | |
Dismantling of assets | 32 | 96 | |
Other provisions | 342 | 466 | |
Total | 1,304 | 1,672 | |
Non-current | |||
Employee benefits | 4,960 | 5,789 | |
Termination plans | 479 | 729 | |
Post-employment defined benefit plans | 484 | 565 | |
Other benefits | 3,997 | 4,495 | |
Dismantling of assets | 645 | 847 | |
Other provisions | 1,552 | 1,850 | |
Total | 7,157 | 8,486 | |
Total | |||
Employee benefits | 5,890 | 6,899 | |
Termination plans | 785 | 1,215 | € 1,246 |
Post-employment defined benefit plans | 492 | 576 | |
Other benefits | 4,613 | 5,108 | |
Dismantling of assets | 677 | 943 | |
Other provisions | 1,894 | 2,316 | |
Total | € 8,461 | € 10,158 |
Provisions - Restructuring Narr
Provisions - Restructuring Narrative (Details) € in Millions | 12 Months Ended | |
Dec. 31, 2020EUR (€)employee | Dec. 31, 2019EUR (€) | |
Disclosure of other provisions [line items] | ||
Restructuring provision | € 71 | € 2,170 |
Discount rate (as a percent) | (0.02%) | |
Telefónica Spain | Operating segments | ||
Disclosure of other provisions [line items] | ||
Restructuring provision | € (2) | 1,733 |
Restructuring provision | Telefónica Spain | ||
Disclosure of other provisions [line items] | ||
Average duration of plans | 1 year 2 months 1 day | |
2011-2013 Labor Force Reduction Plan | Restructuring provision | Telefónica Spain | ||
Disclosure of other provisions [line items] | ||
Restructuring provision | € 312 | € 528 |
Number of employees participating in labor force reduction plan | employee | 6,830 | |
Current restructuring provision | € 166 |
Provisions - Distribution by Se
Provisions - Distribution by Segment of Restructuring Costs (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of operating segments [line items] | ||
Restructuring costs | € 71 | € 2,170 |
Telefónica Spain | Operating segments | ||
Disclosure of operating segments [line items] | ||
Restructuring costs | (2) | 1,733 |
Telefónica United Kingdom | Operating segments | ||
Disclosure of operating segments [line items] | ||
Restructuring costs | 0 | 31 |
Telefónica Germany | Operating segments | ||
Disclosure of operating segments [line items] | ||
Restructuring costs | 37 | 22 |
Telefónica Hispam | Operating segments | ||
Disclosure of operating segments [line items] | ||
Restructuring costs | 17 | 235 |
Other companies | Operating segments | ||
Disclosure of operating segments [line items] | ||
Restructuring costs | € 19 | € 149 |
Provisions - Termination Plans
Provisions - Termination Plans (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Provisions [Roll Forward] | ||
Provision for post-employment plans at beginning of period | € 1,215 | € 1,246 |
Additions | 73 | 452 |
Retirements/amount applied | (456) | (496) |
Transfers | (14) | |
Translation differences, hyperinflation adjustments and accretion | (33) | 11 |
Other | 2 | |
Provision for post-employment plans at end of period | € 785 | € 1,215 |
Provisions - Main Data of Defin
Provisions - Main Data of Defined Benefit Plans (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of net defined benefit liability (asset) [line items] | |||
Net provision | € 492 | € 576 | |
Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 458 | 519 | |
Net provision | 492 | 576 | |
Net assets | 34 | 57 | |
Obligation | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 1,086 | 3,239 | € 2,628 |
Assets | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | (801) | (2,982) | (2,520) |
Net provision before asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 285 | 257 | |
Asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 173 | 262 | |
United Kingdom | Operating segments | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | 19 | |
Net provision | 0 | 19 | |
Net assets | 0 | 0 | |
United Kingdom | Operating segments | Pension defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | (40) | ||
Net provision | 4 | ||
Net assets | 44 | ||
United Kingdom | Operating segments | Obligation | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | 1,858 | 1,548 |
United Kingdom | Operating segments | Obligation | Pension defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 1,979 | 1,858 | |
United Kingdom | Operating segments | Assets | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | (1,839) | (1,570) |
United Kingdom | Operating segments | Assets | Pension defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | (2,019) | (1,839) | |
United Kingdom | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | 19 | |
United Kingdom | Operating segments | Asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | 0 | |
Germany | Operating segments | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 255 | 211 | |
Net provision | 262 | 218 | |
Net assets | 7 | 7 | |
Germany | Operating segments | Obligation | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 350 | 304 | 239 |
Germany | Operating segments | Assets | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | (95) | (93) | (90) |
Germany | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 255 | 211 | |
Germany | Operating segments | Asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | 0 | |
Brazil | Operating segments | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 123 | 206 | |
Net provision | 149 | 255 | |
Net assets | 26 | 49 | |
Brazil | Operating segments | Obligation | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 643 | 982 | 749 |
Brazil | Operating segments | Assets | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | (693) | (1,038) | (848) |
Brazil | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | (50) | (56) | |
Brazil | Operating segments | Asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 173 | 262 | |
Telefónica Hispam | Operating segments | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 74 | 78 | |
Net provision | 74 | 78 | |
Net assets | 0 | 0 | |
Telefónica Hispam | Operating segments | Obligation | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 74 | 78 | 74 |
Telefónica Hispam | Operating segments | Assets | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | 0 | |
Telefónica Hispam | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 74 | 78 | |
Telefónica Hispam | Operating segments | Asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 0 | 0 | |
Other companies | Operating segments | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 6 | 5 | |
Net provision | 7 | 6 | |
Net assets | 1 | 1 | |
Other companies | Operating segments | Obligation | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 19 | 17 | 18 |
Other companies | Operating segments | Assets | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | (13) | (12) | € (12) |
Other companies | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | 6 | 5 | |
Other companies | Operating segments | Asset ceiling | Post-employment defined benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Total | € 0 | € 0 |
Provisions - Movement in the Pr
Provisions - Movement in the Present Value of Obligations (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | € 519 | |
Net defined benefit liability (asset) at end of period | 458 | € 519 |
Present value of obligation | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 3,239 | 2,628 |
Translation differences | (331) | 64 |
Current service cost | 20 | 14 |
Interest cost | 62 | 127 |
Actuarial losses and gains | (40) | 515 |
Benefits paid | (46) | (105) |
Plan curtailments | 1 | |
Transfers | (1,820) | |
Other movements | 2 | (5) |
Net defined benefit liability (asset) at end of period | 1,086 | 3,239 |
United Kingdom | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 19 | |
Net defined benefit liability (asset) at end of period | 0 | 19 |
United Kingdom | Operating segments | Pension defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at end of period | (40) | |
United Kingdom | Operating segments | Present value of obligation | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 1,858 | 1,548 |
Translation differences | (38) | 86 |
Current service cost | 0 | 0 |
Interest cost | 0 | 44 |
Actuarial losses and gains | 0 | 226 |
Benefits paid | 0 | (46) |
Plan curtailments | 0 | |
Transfers | (1,820) | |
Other movements | 0 | 0 |
Net defined benefit liability (asset) at end of period | 0 | 1,858 |
United Kingdom | Operating segments | Present value of obligation | Pension defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 1,858 | |
Translation differences | (101) | |
Interest cost | 36 | |
Actuarial losses and gains | 234 | |
Benefits paid | (48) | |
Net defined benefit liability (asset) at end of period | 1,979 | 1,858 |
Germany | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 211 | |
Net defined benefit liability (asset) at end of period | 255 | 211 |
Germany | Operating segments | Present value of obligation | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 304 | 239 |
Translation differences | 0 | 0 |
Current service cost | 10 | 11 |
Interest cost | 3 | 5 |
Actuarial losses and gains | 37 | 53 |
Benefits paid | (4) | (4) |
Plan curtailments | 0 | |
Transfers | 0 | |
Other movements | 0 | 0 |
Net defined benefit liability (asset) at end of period | 350 | 304 |
Brazil | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 206 | |
Net defined benefit liability (asset) at end of period | 123 | 206 |
Brazil | Operating segments | Present value of obligation | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 982 | 749 |
Translation differences | (280) | (21) |
Current service cost | 5 | 4 |
Interest cost | 55 | 67 |
Actuarial losses and gains | (81) | 233 |
Benefits paid | (38) | (50) |
Plan curtailments | 0 | |
Transfers | 0 | |
Other movements | 0 | 0 |
Net defined benefit liability (asset) at end of period | 643 | 982 |
Telefónica Hispam | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 78 | |
Net defined benefit liability (asset) at end of period | 74 | 78 |
Telefónica Hispam | Operating segments | Present value of obligation | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 78 | 74 |
Translation differences | (12) | (1) |
Current service cost | 4 | (2) |
Interest cost | 4 | 11 |
Actuarial losses and gains | 4 | 4 |
Benefits paid | (3) | (4) |
Plan curtailments | 1 | |
Transfers | 0 | |
Other movements | (1) | (5) |
Net defined benefit liability (asset) at end of period | 74 | 78 |
Other companies | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 5 | |
Net defined benefit liability (asset) at end of period | 6 | 5 |
Other companies | Operating segments | Present value of obligation | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit liability (asset) at beginning of period | 17 | 18 |
Translation differences | (1) | 0 |
Current service cost | 1 | 1 |
Interest cost | 0 | 0 |
Actuarial losses and gains | 0 | (1) |
Benefits paid | (1) | (1) |
Plan curtailments | 0 | |
Transfers | 0 | |
Other movements | 3 | 0 |
Net defined benefit liability (asset) at end of period | € 19 | € 17 |
Provisions - Movements in the F
Provisions - Movements in the Fair Value of Plan Assets (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | € (519) | |
Net defined benefit asset (liability) at end of period | (458) | € (519) |
Fair value of plan assets | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | 2,982 | 2,520 |
Translation differences | (334) | 64 |
Interest income | 58 | 124 |
Actuarial losses and gains | (56) | 340 |
Company contributions | 2 | 27 |
Participants contributions | 3 | |
Benefits paid | (38) | (92) |
Transfers | (1,801) | |
Other movements | (12) | (4) |
Net defined benefit asset (liability) at end of period | 801 | 2,982 |
United Kingdom | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | (19) | |
Net defined benefit asset (liability) at end of period | 0 | (19) |
United Kingdom | Operating segments | Pension defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at end of period | 40 | |
United Kingdom | Operating segments | Fair value of plan assets | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | 1,839 | 1,570 |
Translation differences | (36) | 86 |
Interest income | 0 | 46 |
Actuarial losses and gains | 0 | 157 |
Company contributions | 0 | 27 |
Participants contributions | 0 | |
Benefits paid | 0 | (46) |
Transfers | (1,803) | |
Other movements | 0 | (1) |
Net defined benefit asset (liability) at end of period | 0 | 1,839 |
United Kingdom | Operating segments | Fair value of plan assets | Pension defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | 1,839 | |
Translation differences | (99) | |
Interest income | 36 | |
Actuarial losses and gains | 203 | |
Company contributions | 90 | |
Benefits paid | (48) | |
Other movements | (2) | |
Net defined benefit asset (liability) at end of period | 2,019 | 1,839 |
Germany | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | (211) | |
Net defined benefit asset (liability) at end of period | (255) | (211) |
Germany | Operating segments | Fair value of plan assets | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | 93 | 90 |
Translation differences | 0 | 0 |
Interest income | 1 | 2 |
Actuarial losses and gains | 1 | 2 |
Company contributions | 2 | 0 |
Participants contributions | 3 | |
Benefits paid | (2) | (2) |
Transfers | 0 | |
Other movements | 0 | (2) |
Net defined benefit asset (liability) at end of period | 95 | 93 |
Brazil | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | (206) | |
Net defined benefit asset (liability) at end of period | (123) | (206) |
Brazil | Operating segments | Fair value of plan assets | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | 1,038 | 848 |
Translation differences | (297) | (22) |
Interest income | 57 | 76 |
Actuarial losses and gains | (57) | 181 |
Company contributions | 0 | 0 |
Participants contributions | 0 | |
Benefits paid | (36) | (44) |
Transfers | 0 | |
Other movements | (12) | (1) |
Net defined benefit asset (liability) at end of period | 693 | 1,038 |
Other companies | Operating segments | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | (5) | |
Net defined benefit asset (liability) at end of period | (6) | (5) |
Other companies | Operating segments | Fair value of plan assets | Post-employment defined benefit plans | ||
Net Defined Benefit Liability Asset [Roll Forward] | ||
Net defined benefit asset (liability) at beginning of period | 12 | 12 |
Translation differences | (1) | 0 |
Interest income | 0 | 0 |
Actuarial losses and gains | 0 | 0 |
Company contributions | 0 | 0 |
Participants contributions | 0 | |
Benefits paid | 0 | 0 |
Transfers | 2 | |
Other movements | 0 | 0 |
Net defined benefit asset (liability) at end of period | € 13 | € 12 |
Provisions - Main Actuarial Ass
Provisions - Main Actuarial Assumptions Used in Telefónica United Kingdom Pension Plan (Details) - site | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of defined benefit plans [line items] | ||
Discount rate (as a percent) | (0.02%) | |
Telefónica United Kingdom | Foreign defined benefit plans | ||
Disclosure of defined benefit plans [line items] | ||
Number of beneficiaries under plan | 4,397 | 4,422 |
Average duration of plans | 22 years | |
Nominal rate of pension payment increase | 2.75% | 2.90% |
Discount rate (as a percent) | 1.35% | 2.05% |
Expected inflation | 2.80% | 2.95% |
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, 2020 | Dec. 31, 2019 |
Disclosure of fair value of plan assets [line items] | ||
Credit instruments | € 1,876 | € 1,710 |
Cash equivalents | 143 | 129 |
Total | € 2,019 | € 1,839 |
Provisions - Effect of Changes
Provisions - Effect of Changes in Actuarial Assumptions on Defined Benefit Obligation of Telefonica United Kingdom Pension Plan (Details) - Telefónica United Kingdom - Foreign defined benefit plans € in Millions | 12 Months Ended |
Dec. 31, 2020EUR (€) | |
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) | € 116 |
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 | € 111 |
Life expectancy | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Possible increase in life expectancy | 1 year |
Increase in defined benefit obligation | € 71 |
Provisions - Main Actuarial A_2
Provisions - Main Actuarial Assumptions Used in Telefónica Brazil Plan (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of defined benefit plans [line items] | ||
Discount rate (as a percent) | (0.02%) | |
Telefónica Brazil | Foreign defined benefit plans | ||
Disclosure of defined benefit plans [line items] | ||
Nominal rate of salary increase (as a percent) | 5.47% | |
Long-term inflation rate | 3.50% | 3.80% |
Growth rate for medical costs | 6.61% | 6.91% |
Telefónica Brazil | Foreign defined benefit plans | Minimum | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate (as a percent) | 6.37% | 6.65% |
Nominal rate of salary increase (as a percent) | 4.58% | |
Telefónica Brazil | Foreign defined benefit plans | Maximum | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate (as a percent) | 7.88% | 7.54% |
Nominal rate of salary increase (as a percent) | 6.35% |
Provisions - Sensitivity to Cha
Provisions - Sensitivity to Changes in Actuarial Assumptions on Discounted Obligation of Telefónica Brazil Plan (Details) - Telefónica Brazil - Foreign defined benefit plans € in Millions | Dec. 31, 2020EUR (€) |
Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 643 |
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 | € 609 |
Percentage of possible increase in actuarial assumption | 0.50% |
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 | € 682 |
Percentage of reasonably possible decrease in actuarial assumption | 0.50% |
Growth rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 643 |
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 | € 692 |
Percentage of possible increase in actuarial assumption | 1.00% |
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 | € 604 |
Percentage of reasonably possible decrease in actuarial assumption | 1.00% |
Pension plans | Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 351 |
Pension 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 | 338 |
Pension 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 | 366 |
Pension plans | Growth rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 351 |
Pension 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 | 351 |
Pension 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 | 351 |
Health plans | Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 292 |
Health 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 | 271 |
Health 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 | 316 |
Health plans | Growth rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 292 |
Health 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 | 341 |
Health 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 | € 253 |
Provisions - Individual Suspens
Provisions - Individual Suspension Plan (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of defined benefit plans [line items] | ||
Provisions for employee benefits | € 5,890 | € 6,899 |
Discount rate (as a percent) | (0.02%) | |
Individual Suspension Plan | ||
Disclosure of defined benefit plans [line items] | ||
Provisions for employee benefits | € 4,479 | € 4,961 |
Discount rate (as a percent) | 0.08% | |
Average duration of plans | 4 years 3 months 14 days |
Provisions - Sensitivity Analys
Provisions - Sensitivity Analysis Used in Individual Suspension Plan (Details) - Individual Suspension Plan - Discount rate € in Millions | Dec. 31, 2020EUR (€) |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | € (205) |
Impact on income statement | (205) |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 191 |
Impact on income statement | € 191 |
Provisions - Movement in Provis
Provisions - Movement in Provisions (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | € 2,316 | |
Other provisions at end of period | 1,894 | € 2,316 |
Dismantling of assets | ||
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | 943 | 909 |
Additions and accretion | 213 | 178 |
Retirements/amount applied | (116) | (97) |
Transfers | (296) | |
Translation differences and other | (67) | (47) |
Other provisions at end of period | 677 | 943 |
Dismantling of assets | Telefónica United Kingdom | ||
Disclosure of other provisions [line items] | ||
Transfers | 89 | |
Dismantling of assets | Telxius Group | ||
Disclosure of other provisions [line items] | ||
Transfers | 212 | |
Other provisions | ||
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | 2,316 | 3,138 |
Reclassification entry into force IFRIC 23 | (856) | |
Additions and accretion | 568 | 946 |
Retirements/amount applied | (500) | (841) |
Transfers | (62) | 19 |
Translation differences and other | (428) | (90) |
Other provisions at end of period | 1,894 | € 2,316 |
Other provisions | Telefónica United Kingdom | ||
Disclosure of other provisions [line items] | ||
Transfers | € 74 |
Provisions - Provisions by Segm
Provisions - Provisions by Segment (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of other provisions [line items] | |||
Other provisions | € 1,894 | € 2,316 | |
Dismantling of assets | |||
Disclosure of other provisions [line items] | |||
Other provisions | 677 | 943 | € 909 |
Telefónica Spain | Dismantling of assets | Operating segments | |||
Disclosure of other provisions [line items] | |||
Other provisions | 6 | 6 | |
Telefónica Germany | Dismantling of assets | Operating segments | |||
Disclosure of other provisions [line items] | |||
Other provisions | 503 | 421 | |
Telefónica Brazil | |||
Disclosure of other provisions [line items] | |||
Other provisions | 686 | 898 | |
Telefónica Brazil | Dismantling of assets | Operating segments | |||
Disclosure of other provisions [line items] | |||
Other provisions | 64 | 141 | |
Telefónica United Kingdom | Dismantling of assets | Operating segments | |||
Disclosure of other provisions [line items] | |||
Other provisions | 0 | 89 | |
Telefónica Hispam | Dismantling of assets | Operating segments | |||
Disclosure of other provisions [line items] | |||
Other provisions | 99 | 120 | |
Telxius Group | Dismantling of assets | Operating segments | |||
Disclosure of other provisions [line items] | |||
Other provisions | 0 | 164 | |
Other companies | Dismantling of assets | Operating segments | |||
Disclosure of other provisions [line items] | |||
Other provisions | € 5 | € 2 |
Provisions - Provisions Narrati
Provisions - Provisions Narrative (Details) € in Millions, S/ in Millions | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2019PEN (S/) | Dec. 31, 2018EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2016PEN (S/) |
Disclosure of other provisions [line items] | ||||||
Other provisions | € 1,894 | € 2,316 | ||||
Goodwill expected to be deductible for tax purposes | 420 | 352 | € 283 | |||
Regulatory proceedings | ||||||
Disclosure of other provisions [line items] | ||||||
Other provisions | 881 | 1,247 | ||||
Civil Proceedings | ||||||
Disclosure of other provisions [line items] | ||||||
Estimated financial effect of contingent liabilities | 529 | 772 | ||||
Telefónica Brazil | ||||||
Disclosure of other provisions [line items] | ||||||
Other provisions | 686 | 898 | ||||
Telefónica Brazil | Tax contingent liability | ||||||
Disclosure of other provisions [line items] | ||||||
Estimated financial effect of contingent liabilities | 4,606 | 5,768 | ||||
Telefónica Brazil | Regulatory proceedings | ||||||
Disclosure of other provisions [line items] | ||||||
Other provisions | 189 | 253 | ||||
Telefónica Brazil | Tax proceedings | ||||||
Disclosure of other provisions [line items] | ||||||
Other provisions | 282 | 348 | 440 | |||
Telefónica Brazil | Vivo | Goodwill amortized for tax | ||||||
Disclosure of other provisions [line items] | ||||||
Other provisions | € 129 | 184 | ||||
Telefónica Peru | Tax proceedings | ||||||
Disclosure of other provisions [line items] | ||||||
Other provisions | € 154 | S/ 580 | € 439 | € 431 | S/ 1,521 |
Provisions - Balances of Provis
Provisions - Balances of Provisions (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of other provisions [line items] | |||
Other provisions | € 1,894 | € 2,316 | |
Regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 881 | 1,247 | |
Telefónica Brazil | |||
Disclosure of other provisions [line items] | |||
Other provisions | 686 | 898 | |
Telefónica Brazil | Tax proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 282 | 348 | € 440 |
Telefónica Brazil | Tax proceedings | Federal taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 98 | 127 | |
Telefónica Brazil | Tax proceedings | State taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 98 | 103 | |
Telefónica Brazil | Tax proceedings | Municipal taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 6 | 8 | |
Telefónica Brazil | Tax proceedings | FUST | |||
Disclosure of other provisions [line items] | |||
Other provisions | 80 | 110 | |
Telefónica Brazil | Regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 189 | 253 | |
Telefónica Brazil | Labor claims | |||
Disclosure of other provisions [line items] | |||
Other provisions | 78 | 121 | |
Telefónica Brazil | Civil proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | € 137 | € 176 |
Provisions - Provisions for Tax
Provisions - Provisions for Tax Proceedings (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | € 2,316 | |
Other provisions at end of period | 1,894 | € 2,316 |
Telefónica Brazil | ||
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | 898 | |
Other provisions at end of period | 686 | 898 |
Telefónica Brazil | Tax proceedings | ||
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | 348 | 440 |
Reclassification entry into force IFRIC 23 | (16) | |
Movements with a counterparty in the income statement | 21 | 7 |
Write-offs due to payment | (4) | (83) |
Monetary updating | 22 | 6 |
Translation differences | (105) | (6) |
Other provisions at end of period | € 282 | € 348 |
Provisions - Provisions for Jud
Provisions - Provisions for Judicial Proceedings (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of other provisions [line items] | |||
Other provisions | € 1,894 | € 2,316 | |
Current (see Note 15) | 342 | 466 | |
Non-current (see Note 12) | 1,552 | 1,850 | |
Regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 881 | 1,247 | |
Telefónica Brazil | |||
Disclosure of other provisions [line items] | |||
Other provisions | 686 | 898 | |
Telefónica Brazil | Tax proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 282 | 348 | € 440 |
Telefónica Brazil | Labor claims | |||
Disclosure of other provisions [line items] | |||
Other provisions | 78 | 121 | |
Telefónica Brazil | Civil proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 137 | 176 | |
Telefónica Brazil | Regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 189 | 253 | |
Telefónica Brazil | Judicial Proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 462 | 811 | |
Current (see Note 15) | 28 | 61 | |
Non-current (see Note 12) | 434 | 750 | |
Telefónica Brazil | Judicial Proceedings | Tax proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 228 | 443 | |
Telefónica Brazil | Judicial Proceedings | Labor claims | |||
Disclosure of other provisions [line items] | |||
Other provisions | 38 | 70 | |
Telefónica Brazil | Judicial Proceedings | Civil proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 149 | 232 | |
Telefónica Brazil | Judicial Proceedings | Regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 42 | 58 | |
Telefónica Brazil | Judicial Proceedings | Garnishments | |||
Disclosure of other provisions [line items] | |||
Other provisions | € 5 | € 8 |
Tax Matters - Narrative (Detail
Tax Matters - Narrative (Details) S/ in Millions, R$ in Millions | Jun. 13, 2019EUR (€) | Jan. 01, 2019EUR (€) | Mar. 31, 2019EUR (€) | Aug. 31, 2015 | Dec. 31, 2020EUR (€)company | Dec. 31, 2020BRL (R$) | Dec. 31, 2019EUR (€)company | Dec. 31, 2019BRL (R$) | Dec. 31, 2018EUR (€) | Dec. 31, 2020BRL (R$)company | Dec. 31, 2019PEN (S/)company | Dec. 31, 2019BRL (R$)company | Dec. 31, 2016EUR (€) | Dec. 31, 2016PEN (S/) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Number of consolidated tax group companies | company | 44 | 42 | 44 | 42 | 42 | |||||||||
Reversal of deferred tax assets | € 101,000,000 | |||||||||||||
Deferred tax assets | 6,416,000,000 | € 6,682,000,000 | € 7,631,000,000 | |||||||||||
Deferred tax liabilities | 2,620,000,000 | 2,908,000,000 | 2,674,000,000 | |||||||||||
Tax credits recognized | 103,000,000 | |||||||||||||
Transfers of deferred tax assets movement | 250,000,000 | |||||||||||||
Unused tax losses for which no deferred tax asset recognised | 6,803,000,000 | |||||||||||||
Indirect taxes | 484,000,000 | 941,000,000 | ||||||||||||
Increase/(decrease) in tax expense arising from temporary differences | (8,000,000) | 484,000,000 | 569,000,000 | |||||||||||
Income tax expense | 626,000,000 | 1,054,000,000 | 1,621,000,000 | |||||||||||
Positive tax effect of impairment of goodwill | 1,716,000,000 | |||||||||||||
Amortized goodwill for tax purposes | 420,000,000 | 352,000,000 | 283,000,000 | |||||||||||
Losses on litigation settlements | 2,736,000,000 | R$ 17446 | 3,416,000,000 | R$ 15460 | ||||||||||
Other provisions | 1,894,000,000 | 2,316,000,000 | ||||||||||||
Telxius Towers Germany Gmbh | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Increase (decrease) in deferred tax liability (asset) | 184,000,000 | |||||||||||||
Unused tax deductions | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 6,416,000,000 | 6,682,000,000 | ||||||||||||
Temporary differences | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 4,530,000,000 | 5,110,000,000 | ||||||||||||
Deferred tax liabilities | 4,923,000,000 | 5,679,000,000 | ||||||||||||
PIS/COFINS | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Indirect taxes | 0 | 452,000,000 | ||||||||||||
Spain | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 1,283,000,000 | 1,420,000,000 | ||||||||||||
Tax credits recognized | 103,000,000 | 95,000,000 | ||||||||||||
Tax credits disposed | 145,000,000 | |||||||||||||
Unused tax losses for which no deferred tax asset recognised | 422,000,000 | |||||||||||||
Tax credits reversed | 95,000,000 | |||||||||||||
Spain | Total unused tax credits | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 1,448,000,000 | |||||||||||||
Germany | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 813,000,000 | |||||||||||||
Unused tax losses for which no deferred tax asset recognised | 6,175,000,000 | |||||||||||||
Latin America | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 645,000,000 | |||||||||||||
Unused tax losses for which no deferred tax asset recognised | 824,000,000 | |||||||||||||
Telefónica Spain | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 30,000,000 | 492,000,000 | ||||||||||||
Disposal of deferred tax assets | 217,000,000 | 207,000,000 | ||||||||||||
Tax proceedings | Telefónica Peru | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Other provisions | 154,000,000 | 439,000,000 | S/ 580 | € 431,000,000 | S/ 1,521 | |||||||||
Deferred Tax Liabilities | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax relating to items credited (charged) directly to equity | 116,000,000 | 2,000,000 | ||||||||||||
Increase/(decrease) in tax expense arising from temporary differences | 152,000,000 | |||||||||||||
Deferred Tax Assets | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax relating to items credited (charged) directly to equity | (90,000,000) | (12,000,000) | ||||||||||||
Increase/(decrease) in tax expense arising from temporary differences | 184,000,000 | |||||||||||||
IFRIC 23 | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Increase (decrease) in deferred tax liability (asset) | € 313,000,000 | 69,000,000 | ||||||||||||
Tribunal Economico-Administrativo Central - Overpayments in 2008-2011 | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Transfers of deferred tax assets movement | 702,000,000 | 702,000,000 | ||||||||||||
Proceeds from favorable tax appeal | € 201,000,000 | |||||||||||||
Tribunal Economico-Administrativo Central - Overpayments in 2008-2011 | Telefónica Spain | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Income tax expense | 201,000,000 | |||||||||||||
Peru - Rulings in June and August 2015 | Tax proceedings | Telefónica Peru | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Other provisions | 542,000,000 | S/ 2,407 | ||||||||||||
Telefónica Brazil | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 231,000,000 | 122,000,000 | ||||||||||||
Deferred tax liabilities | 304,000,000 | |||||||||||||
Disposal of deferred tax assets | 127,000,000 | |||||||||||||
Other possible contingencies | 15,000,000 | 14,000,000 | R$ 96 | R$ 87 | ||||||||||
Telefónica Brazil | Tax Year 2011 to 2017 | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Other possible contingencies | 2,647,000,000 | 2,186,000,000 | R$ 16873 | R$ 9895 | ||||||||||
Telefónica Germany | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 64,000,000 | |||||||||||||
Tax credits recognized | 159,000,000 | |||||||||||||
Telefónica Germany | Deferred Tax Assets | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Reversal of deferred tax assets | 159,000,000 | |||||||||||||
Group 3G UMTS Holding | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Tax credits recognized | 24,000,000 | 81,000,000 | ||||||||||||
Applied tax loss carryforwards | 64,000,000 | 77,000,000 | ||||||||||||
Group 3G UMTS Holding | Temporary differences | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Reversal of deferred tax assets | 24,000,000 | |||||||||||||
Telefonica, S.A. | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 6,416,000,000 | 6,682,000,000 | ||||||||||||
Deferred tax liabilities | 2,620,000,000 | 2,908,000,000 | ||||||||||||
Deferred tax liabilities reclassified | 204,000,000 | 209,000,000 | ||||||||||||
Telefonica, S.A. | Unused tax deductions | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 1,448,000,000 | 1,459,000,000 | ||||||||||||
Telefonica, S.A. | Temporary differences | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 2,227,000,000 | 2,339,000,000 | ||||||||||||
Telefónica Argentina | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Reversal of deferred tax liabilities associated with hyperinflation | 94,000,000 | |||||||||||||
Telefonica Moviles Mexico | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Reversal of deferred tax assets | 454,000,000 | |||||||||||||
Disposal of deferred tax assets | 454,000,000 | 327,000,000 | ||||||||||||
Telefonica Moviles Mexico | Temporary differences | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Reversal of deferred tax assets | 271,000,000 | |||||||||||||
Telefonica Moviles Mexico | Deferred Tax Assets | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Reversal of deferred tax assets | 183,000,000 | |||||||||||||
Telefónica United Kingdom | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Transfers of deferred tax assets movement | 65,000,000 | |||||||||||||
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% | |||||||||||||
Telefónica Peru | Tribunal Economico-Administrativo Central - Overpayments in 2008-2011 | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Income tax expense | 154,000,000 | |||||||||||||
Vivo | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Acquisitions through business combinations, other provisions | 68,000,000 | |||||||||||||
Acquisitions through business combinations, other provisions | 68,000,000 | |||||||||||||
Spain | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Proceeds from favorable tax appeal | € 1,400,000 | |||||||||||||
Spain | Temporary differences | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Reversal of deferred tax assets | 101,000,000 | |||||||||||||
Less than 1 year | Unused tax deductions | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 944,000,000 | 747,000,000 | ||||||||||||
Less than 1 year | Spain | Unused tax deductions | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax assets | 718,000,000 | 525,000,000 | ||||||||||||
Subsidiaries | ||||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||||
Deferred tax liabilities | 221,000,000 | 157,000,000 | 307,000,000 | |||||||||||
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | € 230,000,000 | € 285,000,000 | € 129,000,000 |
Tax Matters - Deferred Taxes Mo
Tax Matters - Deferred Taxes Movement (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred tax assets | ||
Beginning balance, Deferred tax assets | € 6,682 | € 7,631 |
Reclassification entry into force IFRIC 23 | 0 | |
Additions | 846 | 1,070 |
Disposals | (687) | (1,123) |
Transfers | (230) | (882) |
Translation differences and hyperinflation adjustments | (211) | (33) |
Company movements and others | 16 | 19 |
Ending balance, Deferred tax assets | 6,416 | 6,682 |
Deferred tax liabilities | ||
Beginning balance, Deferred tax liabilities | 2,908 | 2,674 |
Reclassification entry into force IFRIC 23 | 313 | |
Additions | 600 | 586 |
Disposals | (272) | (323) |
Transfers | (257) | (250) |
Translation differences and hyperinflation adjustments | (344) | (87) |
Company movements and others | (15) | (5) |
Ending balance, Deferred tax liabilities | € 2,620 | € 2,908 |
Tax Matters - Expected Realizat
Tax Matters - Expected Realization of Deferred Tax Assets and Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 6,416 | € 6,682 | € 7,631 |
Deferred tax liabilities | 2,620 | 2,908 | 2,674 |
Unused tax deductions | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 6,416 | 6,682 | |
Unused tax deductions | Less than 1 year | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 944 | 747 | |
Unused tax deductions | More than 360 days | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 5,472 | 5,935 | |
Tax credits for loss carryforwards | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 2,741 | 2,884 | € 3,828 |
Deferred tax liabilities | 2,620 | 2,908 | |
Tax credits for loss carryforwards | Less than 1 year | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | (173) | (17) | |
Tax credits for loss carryforwards | More than 360 days | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | € 2,793 | € 2,925 |
Tax Matters - Deferred Tax Asse
Tax Matters - Deferred Tax Assets (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 6,416 | € 6,682 | € 7,631 |
Tax credits for loss carryforwards | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 2,741 | 2,884 | € 3,828 |
Unused tax deductions | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 6,416 | 6,682 | |
Deferred tax assets for temporary differences | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 4,530 | 5,110 | |
Telefonica, S.A. | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 6,416 | 6,682 | |
Telefonica, S.A. | Tax credits for loss carryforwards | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 2,741 | 2,884 | |
Telefonica, S.A. | Unused tax deductions | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 1,448 | 1,459 | |
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 | € 2,227 | € 2,339 |
Tax Matters - Tax Credits for L
Tax Matters - Tax Credits for Loss Carry-Forwards (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | € 6,682 | € 7,631 |
Ending balance, Deferred tax assets | 6,416 | 6,682 |
Tax loss carryforwards generated in the tax group | 6,803 | |
Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 2,884 | 3,828 |
Additions | 207 | 217 |
Reversals | (218) | (295) |
Perimeter changes | 0 | 0 |
Translation differences and other | (132) | (866) |
Ending balance, Deferred tax assets | 2,741 | 2,884 |
Tax loss carryforwards generated in the tax group | 4,602 | |
Spain | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 1,420 | |
Ending balance, Deferred tax assets | 1,283 | 1,420 |
Tax loss carryforwards generated in the tax group | 422 | |
Spain | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 1,420 | 2,272 |
Additions | 3 | 0 |
Reversals | (140) | (16) |
Perimeter changes | 0 | 0 |
Translation differences and other | 0 | (836) |
Ending balance, Deferred tax assets | 1,283 | 1,420 |
Germany | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Ending balance, Deferred tax assets | 813 | |
Tax loss carryforwards generated in the tax group | 6,175 | |
Germany | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 695 | 580 |
Additions | 183 | 192 |
Reversals | (64) | (77) |
Perimeter changes | 0 | 0 |
Translation differences and other | (1) | 0 |
Ending balance, Deferred tax assets | 813 | 695 |
Latin America | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Ending balance, Deferred tax assets | 645 | |
Tax loss carryforwards generated in the tax group | 824 | |
Latin America | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 769 | 976 |
Additions | 21 | 25 |
Reversals | (14) | (202) |
Perimeter changes | 0 | 0 |
Translation differences and other | (131) | (30) |
Ending balance, Deferred tax assets | 645 | 769 |
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 | 0 | 0 |
Additions | 0 | 0 |
Reversals | 0 | 0 |
Perimeter changes | 0 | 0 |
Translation differences and other | 0 | 0 |
Ending balance, Deferred tax assets | 0 | € 0 |
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 | 2,201 | |
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 | 645 | |
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 | 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 | 3,957 | |
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 | € 2,201 |
Tax Matters - Temporary Differe
Tax Matters - Temporary Differences (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 6,416 | € 6,682 | € 7,631 |
Deferred tax liabilities | 2,620 | 2,908 | € 2,674 |
Deferred tax liabilities (assets) offset | (2,303) | (2,771) | |
Goodwill and intangible assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 208 | 323 | |
Deferred tax liabilities | 1,678 | 2,115 | |
Property, plant and equipment | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 421 | 520 | |
Deferred tax liabilities | 1,028 | 1,203 | |
Personnel commitments | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 1,493 | 1,730 | |
Deferred tax liabilities | 12 | 7 | |
Provisions | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 693 | 832 | |
Deferred tax liabilities | 514 | 385 | |
Investments in subsidiaries, associates and other shareholdings | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 6 | 6 | |
Deferred tax liabilities | 268 | 414 | |
Inventories and receivables | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 288 | 273 | |
Deferred tax liabilities | 12 | 197 | |
Rights of use | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 29 | 15 | |
Deferred tax liabilities | 918 | 800 | |
Lease liabilities | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 909 | 796 | |
Other concepts | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 483 | 615 | |
Deferred tax liabilities | 493 | 558 | |
Total deferred tax assets/ liabilities for temporary differences | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 4,530 | 5,110 | |
Deferred tax liabilities | 4,923 | 5,679 | |
Total temporary difference | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 2,227 | 2,339 | |
Deferred tax liabilities | € 2,620 | € 2,908 |
Tax Matters - Tax Payables and
Tax Matters - Tax Payables and Receivables (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Income Taxes [Abstract] | ||
Tax withholdings | € 105 | € 161 |
Indirect taxes | 380 | 817 |
Social security | 118 | 137 |
Current income taxes payable | 813 | 1,073 |
Other | 316 | 372 |
Total | 1,732 | 2,560 |
Indirect taxes | 484 | 941 |
Current income taxes receivable | 334 | 507 |
Other | 84 | 113 |
Total | € 902 | € 1,561 |
Tax Matters - Reconciliation of
Tax Matters - Reconciliation of Profit (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Taxes [Abstract] | |||
Accounting profit before tax | € 2,583 | € 2,718 | € 5,571 |
Tax expense at prevailing statutory rate | 532 | 722 | 1,544 |
Permanent differences | 289 | (223) | 133 |
Changes in deferred tax charge due to changes in tax rates | 14 | 8 | 6 |
(Capitalization)/reversal of tax deduction and tax relief | (103) | (44) | 371 |
(Capitalization)/reversal of loss carryforwards | (88) | 118 | (1,067) |
Increase/(decrease) in tax expense arising from temporary differences | (8) | 484 | 569 |
Other concepts | (10) | (11) | 65 |
Current tax expense | 462 | 1,108 | 1,122 |
Deferred tax expense/(benefit) | 164 | (54) | 499 |
Corporate income tax | € 626 | € 1,054 | € 1,621 |
Revenue and Expenses - Revenues
Revenue and Expenses - Revenues (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Analysis of income and expense [abstract] | |||
Rendering of services | € 37,394 | € 42,264 | € 43,085 |
Sales | 5,682 | 6,158 | 5,608 |
Total | € 43,076 | € 48,422 | € 48,693 |
Revenue and Expenses - Other In
Revenue and Expenses - Other Income (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Continuing And Discontinued Operations [Line Items] | |||
Own work capitalized | € 873 | € 890 | € 815 |
Gain on disposal of companies | 67 | 677 | 21 |
Gain on disposal of other assets | 276 | 612 | 241 |
Government grants | 17 | 22 | 22 |
Other operating income | 354 | 641 | 523 |
Total | 1,587 | 2,842 | 1,622 |
Proceeds from sale of future credit rights from claims filed within four years, not included in income statement | 19 | ||
Telephone towers | |||
Continuing And Discontinued Operations [Line Items] | |||
Gain on disposal of other assets | 39 | 176 | € 53 |
Gains (Losses) in fair value of equity instruments | |||
Continuing And Discontinued Operations [Line Items] | |||
Other operating income | 24 | ||
Telefónica México | |||
Continuing And Discontinued Operations [Line Items] | |||
Gain on disposal of other assets | € 95 | ||
Other Income | |||
Continuing And Discontinued Operations [Line Items] | |||
Capital gain (loss) | 213 | ||
Proceeds from sale of future credit rights | 103 | ||
Proceeds from sale of future credit rights from claims filed within four years | € 51 |
Revenue and Expenses - Other Ex
Revenue and Expenses - Other Expenses (Details) € in Millions, R$ in Millions | 12 Months Ended | ||||
Dec. 31, 2020EUR (€) | Dec. 31, 2020BRL (R$) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | Dec. 31, 2018BRL (R$) | |
Disclosure of transactions between related parties [line items] | |||||
Leases included in Other expenses | € 89 | € 123 | € 1,071 | ||
Other external services | 9,617 | 11,370 | 11,427 | ||
Taxes other than income tax | 902 | 995 | 365 | ||
Change in trade provisions | 860 | 974 | 785 | ||
Losses on disposal of fixed assets and changes in provisions for fixed assets | 416 | 187 | 35 | ||
Goodwill impairment (Note 7) | 519 | 206 | 350 | ||
Other operating expenses | 468 | 589 | 366 | ||
Other expenses | 12,871 | 14,444 | 14,399 | ||
Total | 12,871 | 14,444 | 14,399 | ||
Increase (reduction) to tax expense due to decisions with tax authorities | (75) | R$ 436 | 789 | € 789 | R$ 3386 |
Telefónica México | |||||
Disclosure of transactions between related parties [line items] | |||||
Losses on disposal of fixed assets and changes in provisions for fixed assets | € 375 | 123 | |||
Other operating expenses | € 167 |
Revenue and Expenses - Estimate
Revenue and Expenses - Estimated Payment Schedule (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Undiscounted operating lease payments to be paid | € 10,138 | |
Purchase and other contractual obligations | 42 | |
Operating lease obligations, at present value | € 14 | |
Less than 1 year | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Undiscounted operating lease payments to be paid | 3,939 | |
1 to 3 years | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Undiscounted operating lease payments to be paid | 4,267 | |
3 to 5 years | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Undiscounted operating lease payments to be paid | 1,027 | |
More than 5 years | ||
Disclosure of finance lease and operating lease by lessee [Line Items] | ||
Undiscounted operating lease payments to be paid | € 905 |
Revenue and Expenses - Headcoun
Revenue and Expenses - Headcount (Details) - employee | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Average employees over year | 113,182 | 118,025 | 122,753 |
Employees at year-end | 112,797 | 114,604 | 120,799 |
Percentage of female employees | 38.00% | 37.84% | |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Number of employees with disabilities | 1,119 | 1,081 | |
Telefónica Spain | Operating segments | |||
Disclosure of operating segments [line items] | |||
Average employees over year | 22,992 | 25,338 | 26,892 |
Employees at year-end | 22,978 | 23,081 | 25,474 |
Number of employees with disabilities | 215 | 222 | |
Telefónica United Kingdom | Operating segments | |||
Disclosure of operating segments [line items] | |||
Average employees over year | 6,501 | 6,940 | 6,732 |
Employees at year-end | 6,318 | 6,861 | 7,188 |
Telefónica Germany | Operating segments | |||
Disclosure of operating segments [line items] | |||
Average employees over year | 7,770 | 8,034 | 8,366 |
Employees at year-end | 7,701 | 7,955 | 8,203 |
Telefónica Brazil | Operating segments | |||
Disclosure of operating segments [line items] | |||
Average employees over year | 33,938 | 33,147 | 34,068 |
Employees at year-end | 33,828 | 33,905 | 33,499 |
Telefónica Hispam | Operating segments | |||
Disclosure of operating segments [line items] | |||
Average employees over year | 33,872 | 35,928 | 38,037 |
Employees at year-end | 33,506 | 34,474 | 37,490 |
Telxius Group | Operating segments | |||
Disclosure of operating segments [line items] | |||
Average employees over year | 509 | 470 | 419 |
Employees at year-end | 557 | 494 | 438 |
Other companies | Operating segments | |||
Disclosure of operating segments [line items] | |||
Average employees over year | 7,600 | 8,168 | 8,239 |
Employees at year-end | 7,909 | 7,834 | 8,507 |
Revenue and Expenses - Deprecia
Revenue and Expenses - Depreciation and Amortization (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Analysis of income and expense [abstract] | |||
Property, plant and equipment (Note 8) | € 5,022 | € 5,613 | € 5,751 |
Intangible assets (Note 6) | 2,735 | 3,248 | 3,298 |
Rights of use (Note 9) | 1,602 | 1,721 | |
Total | € 9,359 | € 10,582 | € 9,049 |
Revenue and Expenses - Data Use
Revenue and Expenses - Data Used for Calculation of Basic and Diluted Earnings Per Share (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Profit attributable to ordinary equity holders of parent | |||
Profit attributable to ordinary equity holders of the parent from continuing operations | € 1,582 | € 1,142 | € 3,331 |
Adjustment for the coupon corresponding to undated deeply subordinated securities | (335) | (379) | (540) |
Tax effect | 84 | 97 | 138 |
Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations | € 1,331 | € 860 | € 2,929 |
Number of shares (thousands) | |||
Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share | 5,471,160,000 | 5,453,145,000 | 5,461,067,000 |
Telefónica, S.A. share option plans (in shares) | 6,590,000 | 4,766,000 | 663,000 |
Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares) | 5,477,750,000 | 5,457,911,000 | 5,461,730,000 |
Revenue and Expenses - Earnings
Revenue and Expenses - Earnings Per Share (Details) - € / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Analysis of income and expense [abstract] | |||
Basic earnings per share (in euros per share) | € 0.24 | € 0.16 | € 0.54 |
Diluted earnings per share (in euros per share) | € 0.24 | € 0.16 | € 0.54 |
Share-Based Payment Plans - Nar
Share-Based Payment Plans - Narrative (Details) | Jun. 08, 2018cycle | Jan. 01, 2018sharescycle€ / shares | May 30, 2014EUR (€)shares | Dec. 31, 2020EUR (€)sharesemployee | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Maximum percentage to be issued free | 0.10% | |||||
FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted-average payment coefficient (as a percent) | 50.00% | 50.00% | 50.00% | |||
Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Delivery percent (fulfillment of TSR objective) | 50.00% | |||||
Delivery percent (free cash flow generation, maximum compliance) | 50.00% | |||||
Talent for the Future Share Plan 2018-2022 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Delivery percent (fulfillment of TSR objective) | 50.00% | |||||
Delivery percent (free cash flow generation, maximum compliance) | 50.00% | |||||
Award vesting period | 5 years | |||||
Number of independent cycles | cycle | 3 | |||||
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 | |||||
Number of shares to be received (shares) | 1 | |||||
Maximum amount assigned | € | € 30,000,000 | |||||
Number of employees registered | employee | 16,655 | |||||
First Cycle | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Award vesting period | 5 years | |||||
Number of independent cycles | cycle | 3 | |||||
Period in force of each cycle | 3 years | |||||
Number of shares assigned (shares) | 8,466,996 | |||||
Number of shares outstanding (shares) | 7,093,162 | |||||
First Cycle | Performance and Investment Plan | FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 6.4631 | |||||
First Cycle | Performance and Investment Plan | TSR Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 4.5160 | |||||
First Cycle | Talent for the Future Share Plan 2018-2022 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 787,500 | |||||
Number of shares outstanding (shares) | 691,750 | |||||
First Cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 6.4631 | |||||
First Cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 4.516 | |||||
Second Cycle | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 9,471,489 | |||||
Number of shares outstanding (shares) | 8,257,335 | |||||
Second Cycle | Performance and Investment Plan | FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 4,735,744.5 | |||||
Number of shares outstanding (shares) | 4,128,667.5 | |||||
Second Cycle | Performance and Investment Plan | TSR Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 4,735,744.5 | |||||
Number of shares outstanding (shares) | 4,128,667.5 | |||||
Second Cycle | Talent for the Future Share Plan 2018-2022 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 812,000 | |||||
Number of shares outstanding (shares) | 745,000 | |||||
Second Cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 406,000 | |||||
Number of shares outstanding (shares) | 372,500 | |||||
Second Cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 406,000 | |||||
Number of shares outstanding (shares) | 372,500 | |||||
Third Cycle | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 5,346,508 | |||||
Number of shares outstanding (shares) | 5,309,098 | |||||
Third Cycle | Performance and Investment Plan | FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 2,673,254 | |||||
Number of shares outstanding (shares) | 2,654,549 | |||||
Third Cycle | Performance and Investment Plan | TSR Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 2,673,254 | |||||
Number of shares outstanding (shares) | 2,654,549 | |||||
Third Cycle | Talent for the Future Share Plan 2018-2022 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 897,400 | |||||
Number of shares outstanding (shares) | 894,000 | |||||
Third Cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 448,700 | |||||
Number of shares outstanding (shares) | 447,000 | |||||
Third Cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares assigned (shares) | 448,700 | |||||
Number of shares outstanding (shares) | 447,000 |
Share-Based Payment Plans - Sch
Share-Based Payment Plans - Schedule of Number of Shares Assigned and Outstanding (Details) | 12 Months Ended |
Dec. 31, 2020shares€ / shares | |
Second Cycle | Performance and Investment Plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 9,471,489 |
Outstanding shares (shares) | 8,257,335 |
Second Cycle | Performance and Investment Plan | TSR Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 4,735,744.5 |
Outstanding shares (shares) | 4,128,667.5 |
Unit fair value | € / shares | € 4.44 |
Second Cycle | Performance and Investment Plan | FCF Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 4,735,744.5 |
Outstanding shares (shares) | 4,128,667.5 |
Unit fair value | € / shares | € 6.14 |
Second Cycle | Talent for the Future Share Plan 2018-2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 812,000 |
Outstanding shares (shares) | 745,000 |
Second Cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 406,000 |
Outstanding shares (shares) | 372,500 |
Unit fair value | € / shares | € 4.44 |
Second Cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 406,000 |
Outstanding shares (shares) | 372,500 |
Unit fair value | € / shares | € 6.14 |
Third Cycle | Performance and Investment Plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 5,346,508 |
Outstanding shares (shares) | 5,309,098 |
Third Cycle | Performance and Investment Plan | TSR Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 2,673,254 |
Outstanding shares (shares) | 2,654,549 |
Unit fair value | € / shares | € 1.64 |
Third Cycle | Performance and Investment Plan | FCF Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 2,673,254 |
Outstanding shares (shares) | 2,654,549 |
Unit fair value | € / shares | € 3.21 |
Third Cycle | Talent for the Future Share Plan 2018-2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 897,400 |
Outstanding shares (shares) | 894,000 |
Third Cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 448,700 |
Outstanding shares (shares) | 447,000 |
Unit fair value | € / shares | € 1.64 |
Third Cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
No. of shares assigned (shares) | 448,700 |
Outstanding shares (shares) | 447,000 |
Unit fair value | € / shares | € 3.21 |
Cash Flow Detail - Operating Ac
Cash Flow Detail - Operating Activities (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Cash received from operations | € 51,353 | € 57,699 | € 58,815 |
Cash paid from operations | (36,477) | (41,224) | (42,891) |
Cash paid to suppliers | (31,080) | (35,450) | (37,044) |
Cash paid to employees | (4,434) | (4,934) | (5,072) |
Payments related to cancellation of commitments | (963) | (840) | (775) |
Net payments of interest and other financial expenses net of dividends received | (1,171) | (1,725) | (1,636) |
Net interest and other financial expenses paid | (1,193) | (1,754) | (1,664) |
Dividends received | 22 | 29 | 28 |
Taxes (paid)/proceeds | (509) | 272 | (865) |
Net cash flow provided by operating activities | 13,196 | 15,022 | € 13,423 |
Decrease in operating receipts | € 6,346 | ||
Decrease in operating receipts, percentage | 11.00% | ||
Decrease in interest payments | 32.10% | ||
Transfers of deferred tax assets movement | € 250 | ||
Tribunal Economico-Administrativo Central - Overpayments in 2008-2011 | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Transfers of deferred tax assets movement | 702 | € 702 | |
Corresponding compensating interests of transfers of deferred tax assets movement | € 201 |
Cash Flow Detail - Investing Ac
Cash Flow Detail - Investing Activities (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Proceeds from the sale in property, plant and equipment and intangible assets | € 509 | € 751 | € 192 |
Payments on investments in property, plant and equipment and intangible assets | (7,529) | (8,410) | (8,777) |
(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net | (7,020) | (7,659) | € (8,585) |
Spectrum license payments | 125 | 158 | |
Telefónica México | |||
Disclosure of geographical areas [line items] | |||
Spectrum license payments | € 130 | ||
Telefónica United Kingdom | |||
Disclosure of geographical areas [line items] | |||
Spectrum license payments | € 114 |
Cash Flow Detail - Investing _2
Cash Flow Detail - Investing Activities, Proceeds and Payments on Companies (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | € 81 | € 1,723 | € 29 |
Payments on investments in companies, net of cash and cash equivalents acquired | (79) | (12) | (3) |
Axonix Ltd and Telefonica Digital Inc. | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 0 | 29 |
Seguos de Vida y Pensiones Antares | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 151 | 0 |
Telefónica Moviles Guatemala | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 270 | 0 |
Telefonía Celular de Nicaragua, S.A. | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 342 | 0 |
Telefónica Móviles Panamá, S.A. | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 519 | 0 |
Data Centers | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 515 | 0 |
Telefónica Centroamericana Inversiones, S.L. | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 71 | (83) | 0 |
Other companies | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | € 10 | € 9 | € 0 |
Cash Flow Detail - Investing _3
Cash Flow Detail - Investing Activities, Proceeds and Payments on Financial Investments (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | € 2,308 | € 1,835 | € 1,004 |
Payments on financial investments not included under cash equivalents | (3,297) | (1,132) | (965) |
Legal deposits | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 63 | 11 | 0 |
Payments on financial investments not included under cash equivalents | 0 | (33) | (54) |
Collateral guarantees on derivatives | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 2,224 | 1,793 | 806 |
Payments on financial investments not included under cash equivalents | (3,251) | (947) | (754) |
Derivatives of Telefónica, S.A. | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | 0 | (12) | 0 |
Purchase of Prisa´s stake by Telefónica, S.A. | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | 0 | (15) | 0 |
Other Investments | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | (46) | (125) | (157) |
Seguos de Vida y Pensiones Antares | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 0 | 3 | 78 |
Shortcut I GmbH & Co. KG Technological innovation based business project development | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 0 | 0 | 21 |
Other Associates | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | € 21 | € 28 | € 99 |
Cash Flow Detail - Financing Ac
Cash Flow Detail - Financing Activities, Dividends and Shares (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Dividends [Line Items] | |||
Dividends paid | € (1,296) | € (2,742) | € (2,794) |
Proceeds from share capital increase | 323 | 0 | 0 |
(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests | (223) | (504) | 379 |
Operations with other equity holders | (1,020) | 390 | (561) |
Undated deeply subordinated securities | |||
Dividends [Line Items] | |||
Operations with other equity holders | 500 | 1,800 | 2,250 |
Acquisition of undated deeply subordinated securities (Note 17) | (385) | (935) | (1,779) |
Payments for equity | (808) | (118) | (473) |
Coupon related to undated deeply subordinated securities | |||
Dividends [Line Items] | |||
Payments for equity | (327) | (357) | (559) |
Pontel Participaciones, SL | |||
Dividends [Line Items] | |||
(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests | 0 | 0 | 379 |
Telefonica Moviles Guatemala & Telefonica Celular de Nicaragua & Telefonica Moviles Panama | |||
Dividends [Line Items] | |||
(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests | 0 | (414) | 0 |
Dividends paid by Telefonica, S.A. | |||
Dividends [Line Items] | |||
Dividends paid | (825) | (2,056) | (2,048) |
Non-controlling interests in Telefonica Brasil, S.A. | |||
Dividends [Line Items] | |||
Dividends paid | (227) | (352) | (245) |
Non-controlling interests of Telefonica Deutschland | |||
Dividends [Line Items] | |||
Dividends paid | (156) | (247) | (238) |
Noncontrolling interest of Telefonica Centroamerica | |||
Dividends [Line Items] | |||
Dividends paid | (39) | 0 | (28) |
Noncontrolling interest of Telxius Telecom, S.A. and Pontel Participaciones, S.L. | |||
Dividends [Line Items] | |||
Dividends paid | (44) | (86) | (231) |
Other Dividends | |||
Dividends [Line Items] | |||
Dividends paid | (5) | (1) | (4) |
Telefonica, S.A. | |||
Dividends [Line Items] | |||
(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests | (217) | (86) | 0 |
Telefónica Hispam Norte | |||
Dividends [Line Items] | |||
(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests | € (6) | € (4) | € 0 |
Cash Flow Detail - Financing _2
Cash Flow Detail - Financing Activities, Debt (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds and other debts | € 4,011 | € 4,186 | € 4,289 |
Proceeds on loans, borrowings and promissory notes | 4,516 | 1,702 | 3,973 |
Cancellation of debentures and bonds, and other debts | (6,728) | (3,653) | (4,654) |
Repayments of loans, borrowings and promissory notes | (2,852) | (6,356) | (4,040) |
Lease principal payments (Note 20) | (1,787) | (1,518) | 0 |
Financed spectrum licenses payments | (60) | (59) | (44) |
Payments for investments in spectrum use licenses financed without explicit interest (Notes 2 and 21) | (87) | (87) | 0 |
Payments to suppliers with extended payment terms | (235) | (380) | (428) |
Financed operating payments and investments in property, plant and equipment and intangible assets payments | (382) | (526) | (472) |
Structured financing | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 0 | 0 | 750 |
Bilateral loans of TSA | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 350 | 200 | 585 |
Repayments of loans, borrowings and promissory notes | 0 | (1,835) | (800) |
Syndicated loan of Telxius Telecom, S.A. | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 0 | 0 | 289 |
Syndicated bilateral loan of Telxius Telecom, S.A. | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 0 | 150 | 0 |
Structured financing of Telefónica Europe B.V. | |||
Disclosure of fair value measurement of equity [line items] | |||
Repayments of loans, borrowings and promissory notes | 0 | (1,500) | 0 |
Debt hedging derivatives | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 1,119 | 153 | 209 |
Repayments of loans, borrowings and promissory notes | (139) | (148) | (52) |
Syndicated Loan of Colombia Telecomunicaciones, S.A., E.S.P. | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 436 | 0 | 0 |
Others | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 2,611 | 1,199 | 2,349 |
Repayments of loans, borrowings and promissory notes | (2,713) | (2,873) | (3,188) |
Telefonica Emisiones EMTN Bond | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds and other debts | 3,500 | 2,500 | 2,000 |
SHELF program of Telefonica Emisiones, S.A.U. | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds and other debts | 0 | 1,113 | 1,746 |
O2 Telefónica Deutschland Finanzierungs, GmbH | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds and other debts | 0 | 0 | 600 |
Telefonica del Peru | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds and other debts | 0 | 457 | 0 |
Colombia Telecomunicaciones, S.A, ESP | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds and other debts | 408 | 0 | 0 |
Other equity instruments | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds and other debts | € 103 | € 116 | € (57) |
Other Information - Narrative (
Other Information - Narrative (Details) client in Millions, R$ in Millions, Kč in Millions, $ in Millions, $ in Millions | Feb. 15, 2021EUR (€) | Feb. 12, 2021EUR (€) | Jan. 21, 2021 | Jan. 13, 2021EUR (€)site | Dec. 29, 2020EUR (€) | Dec. 29, 2020ARS ($) | Oct. 29, 2020EUR (€) | Jul. 30, 2020EUR (€) | Jul. 30, 2020USD ($) | Aug. 29, 2019EUR (€) | Aug. 29, 2019USD ($) | Feb. 20, 2019EUR (€) | Feb. 20, 2019USD ($) | Jan. 24, 2019EUR (€) | Aug. 29, 2017EUR (€) | Apr. 11, 2003EUR (€) | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | Jan. 28, 2021EUR (€)clientsite | Jan. 28, 2021BRL (R$)clientsite | Dec. 31, 2020BRL (R$) | Sep. 30, 2020EUR (€) | Sep. 30, 2020ARS ($) | Jan. 31, 2020EUR (€) | Mar. 26, 2019EUR (€) | Mar. 26, 2019ARS ($) | Dec. 21, 2018EUR (€) | Jun. 28, 2018EUR (€) | Jun. 25, 2018EUR (€) | May 31, 2018EUR (€) | May 31, 2018BRL (R$) | Feb. 22, 2018EUR (€) | Feb. 22, 2018ARS ($) | Dec. 31, 2017EUR (€) | Sep. 21, 2017 | Jul. 25, 2017BRL (R$) | Aug. 05, 2016EUR (€) | Aug. 05, 2016CZK (Kč) | Mar. 01, 2016EUR (€) | 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 | ||||||||||||||||||||||||||||||||||||||||
Cost of award for broadcasting rights | € 105,000,000 | € 1,080,000,000 | € 2,940,000,000 | ||||||||||||||||||||||||||||||||||||||
Cost of award for broadcasting rights per season | € 35,000,000 | € 360,000,000 | € 980,000,000 | ||||||||||||||||||||||||||||||||||||||
Broadcasting award price | € 975,000,000 | ||||||||||||||||||||||||||||||||||||||||
Broadcasting award price per season | 325,000,000 | ||||||||||||||||||||||||||||||||||||||||
Notes and debentures issued | 36,502,000,000 | ||||||||||||||||||||||||||||||||||||||||
Auditor's remuneration | 22,860,000 | € 18,720,000 | |||||||||||||||||||||||||||||||||||||||
Audit services | 21,630,000 | 17,540,000 | |||||||||||||||||||||||||||||||||||||||
Directors' remuneration expense | 3,002,534 | ||||||||||||||||||||||||||||||||||||||||
Proceeds from share capital increase | 323,000,000 | 0 | € 0 | ||||||||||||||||||||||||||||||||||||||
Auditors other than PWC | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Auditor's remuneration | 18,200,000 | 13,970,000 | |||||||||||||||||||||||||||||||||||||||
Audit services | 650,000 | € 360,000 | |||||||||||||||||||||||||||||||||||||||
Joint Venture with Liberty Global plc | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proceeds from recapitalization of joint venture | 5,700,000,000 | ||||||||||||||||||||||||||||||||||||||||
FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Commitment to fund investment | € 500,000,000 | ||||||||||||||||||||||||||||||||||||||||
Commitment to fund investment, period | 6 years | ||||||||||||||||||||||||||||||||||||||||
Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Total executive compensation | € 1,923,100 | ||||||||||||||||||||||||||||||||||||||||
Proportionate increase (decrease) in compensation from prior year | 13.80% | ||||||||||||||||||||||||||||||||||||||||
Mr. Angel Vila Boix, Chief Operating Officer | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Total executive compensation | € 1,600,000 | ||||||||||||||||||||||||||||||||||||||||
Board of Directors | Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Total executive compensation | 240,000 | ||||||||||||||||||||||||||||||||||||||||
Executive Commission | Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Total executive compensation | € 80,000 | ||||||||||||||||||||||||||||||||||||||||
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% | |||||||||||||||||||||||||||||||||||||||
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 | Kč 644 | |||||||||||||||||||||||||||||||||||||||
Legal proceedings contingent liability | Lexburg Enterprises Limited | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Estimated financial effect of contingent liabilities | € 8,000,000 | Kč 227 | |||||||||||||||||||||||||||||||||||||||
Legal proceedings contingent liability | Entel | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Estimated financial effect of contingent liabilities | € 37,000,000 | $ 3,833 | € 35,000,000 | $ 1,689 | € 39,000,000 | $ 1,689 | |||||||||||||||||||||||||||||||||||
Payment of litigation settlements | € 16,000,000 | $ 1,689 | |||||||||||||||||||||||||||||||||||||||
Legal proceedings contingent liability | ANATEL | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Estimated financial effect of contingent liabilities | € 81,000,000 | R$ 516 | € 33,000,000 | R$ 211 | |||||||||||||||||||||||||||||||||||||
Legal proceedings contingent liability | Republic of Colombia | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Estimated financial effect of contingent liabilities | R$ | R$ 470 | ||||||||||||||||||||||||||||||||||||||||
Percent paid | 67.50% | ||||||||||||||||||||||||||||||||||||||||
Amount paid | € 317,000,000 | ||||||||||||||||||||||||||||||||||||||||
Telefónica Moviles El Salvador | America Movil, SAB de CV | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proceeds from exchange of share capital | € 277,000,000 | ||||||||||||||||||||||||||||||||||||||||
Telefónica Móviles Panamá, S.A. | Millicom International Cellular, S.A. | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proceeds from exchange of share capital | € 536,000,000 | $ 594 | |||||||||||||||||||||||||||||||||||||||
Colombian Government | Legal proceedings contingent liability | Republic of Colombia | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Percent paid | 32.50% | ||||||||||||||||||||||||||||||||||||||||
Amount paid | € 153,000,000 | ||||||||||||||||||||||||||||||||||||||||
Liberty Global | Joint Venture with Liberty Global plc | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proceeds from recapitalization of joint venture | € 1,400,000,000 | ||||||||||||||||||||||||||||||||||||||||
TEF Infra Germany | FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Commitment to fund investment | € 400,000,000 | ||||||||||||||||||||||||||||||||||||||||
TEF Germany | FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Commitment to fund investment | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||
Allianz | FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Commitment to fund investment | € 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||
Disposal of major subsidiary | Telefónica de Costa Rica TC, S.A. | America Movil, SAB de CV | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proceeds from exchange of share capital | € 425,000,000 | $ 500 | € 503,000,000 | $ 570 | |||||||||||||||||||||||||||||||||||||
Disposal of major subsidiary | Telefónica de Costa Rica TC, S.A. | Millicom International Cellular, S.A. | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate sold (as a percent) | 100.00% | ||||||||||||||||||||||||||||||||||||||||
Entering into significant commitments | FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in joint venture (as a percent) | 50.00% | ||||||||||||||||||||||||||||||||||||||||
Entering into significant commitments | Telefónica Europe | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proceeds from share capital increase | € 758,000,000 | € 1,000,000,000 | |||||||||||||||||||||||||||||||||||||||
Entering into significant commitments | TEF Infra Germany | FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in joint venture (as a percent) | 40.00% | ||||||||||||||||||||||||||||||||||||||||
Entering into significant commitments | TEF Germany | FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in joint venture (as a percent) | 10.00% | ||||||||||||||||||||||||||||||||||||||||
Entering into significant commitments | Allianz | FTTH Joint Venture | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in joint venture (as a percent) | 50.00% | ||||||||||||||||||||||||||||||||||||||||
Other disposals of assets | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of telecommunication tower sites | € 7,700,000,000 | ||||||||||||||||||||||||||||||||||||||||
Number of telecommunication tower sites sold | site | 30,722 | ||||||||||||||||||||||||||||||||||||||||
Major purchases of assets | Grupo Oi Mobile Business | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Number of clients allocated, purchase of assets | client | 10.5 | 10.5 | |||||||||||||||||||||||||||||||||||||||
Proportion of total client base allocated, purchase of assets (as a percent) | 29.00% | 29.00% | |||||||||||||||||||||||||||||||||||||||
Proportion of total radiofrequencies transferred, purchase of assets (as a percent) | 46.00% | 46.00% | |||||||||||||||||||||||||||||||||||||||
Number of mobile sites, agreements for use, purchase of assets | site | 2,700 | 2,700 | |||||||||||||||||||||||||||||||||||||||
Proportion of total mobile sites, agreements for use, purchase of assets | 19.00% | 19.00% | |||||||||||||||||||||||||||||||||||||||
Consideration to be transferred, purchase of assets | € 2,588,000,000 | R$ 16500 | |||||||||||||||||||||||||||||||||||||||
Consideration to be transferred, purchase of assets, base purchase price | 2,469,000,000 | 15,744 | |||||||||||||||||||||||||||||||||||||||
Consideration to be transferred, purchase of assets, Transitional Services Agreement | 119,000,000 | 756 | |||||||||||||||||||||||||||||||||||||||
Consideration to be transferred, purchase of assets, Capacity Agreement | 128,000,000 | 819 | |||||||||||||||||||||||||||||||||||||||
Consideration transferred to date, purchase of assets | € 863,000,000 | R$ 5500 | |||||||||||||||||||||||||||||||||||||||
2020 Green Bond | Entering into significant commitments | Telefónica Emisiones, S.A.U. | |||||||||||||||||||||||||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||||||||||||||||||||||||
Notes and debentures issued | € 500,000,000 |
Other Information - Auditors' F
Other Information - Auditors' Fees (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Auditors Remuneration [Line Items] | ||
Audit services | € 21,630 | € 17,540 |
Audit-related services | 1,230 | 1,180 |
Tax services | 0 | 0 |
All other services (consulting, advisory, etc.) | 0 | 0 |
Total | 22,860 | 18,720 |
PwC Auditores, S.L. | ||
Auditors Remuneration [Line Items] | ||
Audit services | 11,230 | 6,920 |
Audit-related services | 620 | 730 |
Tax services | 0 | 0 |
All other services (consulting, advisory, etc.) | 0 | 0 |
Total | 11,850 | 7,650 |
Other PwC | ||
Auditors Remuneration [Line Items] | ||
Audit services | 10,400 | 10,620 |
Audit-related services | 610 | 450 |
Tax services | 0 | 0 |
All other services (consulting, advisory, etc.) | 0 | 0 |
Total | € 11,010 | € 11,070 |
Other Information - Executive C
Other Information - Executive Compensation (Details) | 12 Months Ended |
Dec. 31, 2020EUR (€) | |
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 |
Operations Classified as Held_3
Operations Classified as Held for Sale - Balance Sheet Breakdown Of Asset Held For Sale And Liabilities Assumed (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of subsidiaries [line items] | ||
Non-current assets and disposal groups held for sale | € 15,413 | € 818 |
Liabilities associated with non-current assets and disposal groups held for sale | 4,791 | 380 |
Telefónica United Kingdom | ||
Disclosure of subsidiaries [line items] | ||
Non-current assets and disposal groups held for sale | 13,053 | |
Liabilities associated with non-current assets and disposal groups held for sale | 3,704 | |
Telxius Towers | ||
Disclosure of subsidiaries [line items] | ||
Non-current assets and disposal groups held for sale | 1,912 | |
Liabilities associated with non-current assets and disposal groups held for sale | 866 | |
Telefónica Móviles El Salvador | ||
Disclosure of subsidiaries [line items] | ||
Non-current assets and disposal groups held for sale | 327 | |
Liabilities associated with non-current assets and disposal groups held for sale | 136 | |
Telefónica de Costa Rica TC, S.A. | ||
Disclosure of subsidiaries [line items] | ||
Non-current assets and disposal groups held for sale | 420 | 439 |
Liabilities associated with non-current assets and disposal groups held for sale | 221 | 244 |
Other subsidiaries | ||
Disclosure of subsidiaries [line items] | ||
Non-current assets and disposal groups held for sale | 28 | € 52 |
Liabilities associated with non-current assets and disposal groups held for sale | € 0 |
Operations Classified as Held_4
Operations Classified as Held for Sale - Narrative (Details) - EUR (€) € in Millions | Jan. 13, 2021 | Jan. 24, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Telxius Telecom, S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Proportion of ownership interest (as a percent) | 50.01% | |||
Telefónica Moviles El Salvador | ||||
Disclosure of subsidiaries [line items] | ||||
Amortisation and depreciation | € 33 | € 32 | ||
Net income attributable to equity holders | € 20 | € 14 | ||
Telefonica, S.A. | Telefónica Centroamericana Inversiones, S.L. | ||||
Disclosure of subsidiaries [line items] | ||||
Proportion of ownership interest (as a percent) | 60.00% | |||
Corporacion Multi Inversiones, SA | Telefónica Centroamericana Inversiones, S.L. | ||||
Disclosure of subsidiaries [line items] | ||||
Proportion of ownership interest (as a percent) | 40.00% | |||
Other disposals of assets | Telxius Telecom, S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Revenue from sale of telecommunication equipment | € 7,700 | |||
Joint Venture with Liberty Global plc | ||||
Disclosure of subsidiaries [line items] | ||||
Proportion of ownership interest in joint venture (as a percent) | 50.00% |
Operations Classified as Held_5
Operations Classified as Held for Sale - Breakdown of Assets Held-for-Sale and Liabilities Assumed (Details) - EUR (€) € in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of subsidiaries [line items] | |||||
NON-CURRENT ASSETS | € 71,396 | € 94,549 | |||
Intangible assets | 11,488 | 16,034 | € 16,856 | ||
Goodwill | 17,044 | 25,403 | |||
Property, plant and equipment | 23,769 | 32,228 | 33,295 | ||
Rights of use | 4,982 | 6,939 | € 7,870 | 0 | |
Investments accounted for by the equity method | 427 | 140 | |||
Financial assets and other non-current assets | 7,270 | 7,123 | |||
Deferred tax assets | 6,416 | 6,682 | 7,631 | ||
CURRENT ASSETS | 33,655 | 24,328 | |||
Inventories | 1,718 | 1,999 | |||
Receivables and other current assets | 6,220 | 8,752 | |||
Tax receivables | 902 | 1,561 | |||
Other current financial assets | 2,495 | 3,123 | |||
Cash and cash equivalents | 5,604 | 6,042 | 5,692 | € 5,192 | |
NON-CURRENT LIABILITIES | 58,674 | 63,236 | |||
Non-current financial liabilities | 42,297 | 43,288 | |||
Non-current lease liabilities | 4,039 | 5,626 | |||
Payables and other non-current liabilities | 1,452 | 1,553 | |||
Deferred tax liabilities | 2,620 | 2,908 | € 2,674 | ||
Non-current provisions | 7,157 | 8,486 | |||
CURRENT LIABILITIES | 28,117 | 30,191 | |||
Current financial liabilities | 8,123 | 9,076 | |||
Current lease liabilities | 1,255 | 1,600 | |||
Payables and other-current liabilities | 9,626 | 13,307 | |||
Current tax payables | 1,732 | 2,560 | |||
Current provisions | 1,304 | 1,672 | |||
Disposal groups classified as held for sale | Telefónica de Costa Rica TC, S.A. | |||||
Disclosure of subsidiaries [line items] | |||||
NON-CURRENT ASSETS | 355 | 352 | |||
Intangible assets | 64 | 72 | |||
Goodwill | 0 | 0 | |||
Property, plant and equipment | 101 | 100 | |||
Rights of use | 134 | 139 | |||
Investments accounted for by the equity method | 0 | ||||
Financial assets and other non-current assets | 27 | 13 | |||
Deferred tax assets | 29 | 28 | |||
CURRENT ASSETS | 65 | 87 | |||
Inventories | 5 | 9 | |||
Receivables and other current assets | 50 | 61 | |||
Tax receivables | 2 | 4 | |||
Other current financial assets | 0 | 0 | |||
Cash and cash equivalents | 8 | 13 | |||
NON-CURRENT LIABILITIES | 158 | 166 | |||
Non-current financial liabilities | 0 | ||||
Non-current lease liabilities | 88 | 104 | |||
Payables and other non-current liabilities | 0 | 0 | |||
Deferred tax liabilities | 66 | 58 | |||
Non-current provisions | 4 | 4 | |||
CURRENT LIABILITIES | 63 | 78 | |||
Current financial liabilities | 0 | ||||
Current lease liabilities | 16 | 19 | |||
Payables and other-current liabilities | 34 | 47 | |||
Current tax payables | 13 | 12 | |||
Current provisions | 0 | ||||
Disposal groups classified as held for sale | Telxius Towers | |||||
Disclosure of subsidiaries [line items] | |||||
NON-CURRENT ASSETS | 1,885 | ||||
Intangible assets | 36 | ||||
Goodwill | 262 | ||||
Property, plant and equipment | 766 | ||||
Rights of use | 555 | ||||
Investments accounted for by the equity method | 0 | ||||
Financial assets and other non-current assets | 16 | ||||
Deferred tax assets | 250 | ||||
CURRENT ASSETS | 27 | ||||
Inventories | 0 | ||||
Receivables and other current assets | 12 | ||||
Tax receivables | 1 | ||||
Other current financial assets | 0 | ||||
Cash and cash equivalents | 14 | ||||
NON-CURRENT LIABILITIES | 631 | ||||
Non-current lease liabilities | 412 | ||||
Payables and other non-current liabilities | 0 | ||||
Deferred tax liabilities | 7 | ||||
Non-current provisions | 212 | ||||
CURRENT LIABILITIES | 235 | ||||
Current lease liabilities | 158 | ||||
Payables and other-current liabilities | 72 | ||||
Current tax payables | 5 | ||||
Current provisions | 0 | ||||
Disposal groups classified as held for sale | Telefónica United Kingdom | |||||
Disclosure of subsidiaries [line items] | |||||
NON-CURRENT ASSETS | 10,950 | ||||
Intangible assets | 1,619 | ||||
Goodwill | 4,594 | ||||
Property, plant and equipment | 3,668 | ||||
Rights of use | 666 | ||||
Investments accounted for by the equity method | 10 | ||||
Financial assets and other non-current assets | 392 | ||||
Deferred tax assets | 1 | ||||
CURRENT ASSETS | 2,103 | ||||
Inventories | 141 | ||||
Receivables and other current assets | 1,876 | ||||
Tax receivables | 0 | ||||
Other current financial assets | 80 | ||||
Cash and cash equivalents | 6 | ||||
NON-CURRENT LIABILITIES | 848 | ||||
Non-current lease liabilities | 318 | ||||
Payables and other non-current liabilities | 226 | ||||
Deferred tax liabilities | 205 | ||||
Non-current provisions | 99 | ||||
CURRENT LIABILITIES | 2,856 | ||||
Current lease liabilities | 204 | ||||
Payables and other-current liabilities | 1,994 | ||||
Current tax payables | 583 | ||||
Current provisions | € 75 | ||||
Disposal groups classified as held for sale | Telefónica Móviles El Salvador | |||||
Disclosure of subsidiaries [line items] | |||||
NON-CURRENT ASSETS | 279 | ||||
Intangible assets | 34 | ||||
Goodwill | 63 | ||||
Property, plant and equipment | 124 | ||||
Rights of use | 53 | ||||
Financial assets and other non-current assets | 3 | ||||
Deferred tax assets | 2 | ||||
CURRENT ASSETS | 48 | ||||
Inventories | 4 | ||||
Receivables and other current assets | 31 | ||||
Tax receivables | 2 | ||||
Other current financial assets | 2 | ||||
Cash and cash equivalents | 9 | ||||
NON-CURRENT LIABILITIES | 69 | ||||
Non-current financial liabilities | 13 | ||||
Non-current lease liabilities | 35 | ||||
Payables and other non-current liabilities | 1 | ||||
Deferred tax liabilities | 15 | ||||
Non-current provisions | 5 | ||||
CURRENT LIABILITIES | 67 | ||||
Current financial liabilities | 23 | ||||
Current lease liabilities | 11 | ||||
Payables and other-current liabilities | 32 | ||||
Current tax payables | € 1 |
Events After the Reporting Pe_2
Events After the Reporting Period - Narrative (Details) € in Millions, home in Millions, R$ in Millions, $ in Millions | Feb. 22, 2021EUR (€)home | Feb. 22, 2021USD ($)home | Feb. 16, 2021USD ($) | Feb. 15, 2021EUR (€) | Feb. 12, 2021EUR (€) | Feb. 10, 2021EUR (€) | Feb. 08, 2021BRL (R$) | Jan. 13, 2021EUR (€)site | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) |
Entity Information [Line Items] | |||||||||||
Proceeds from share capital increase | € 323 | € 0 | € 0 | ||||||||
Other disposals of assets | |||||||||||
Entity Information [Line Items] | |||||||||||
Number of telecommunication tower sites sold | site | 30,722 | ||||||||||
Other disposals of assets | Telxius Telecom, S.A. | |||||||||||
Entity Information [Line Items] | |||||||||||
Revenue from sale of telecommunication equipment | € 7,700 | ||||||||||
Number of telecommunication tower sites sold | site | 30,722 | ||||||||||
Entering into significant commitments | Telefónica Europe | |||||||||||
Entity Information [Line Items] | |||||||||||
Proceeds from share capital increase | € 758 | € 1,000 | |||||||||
Redemption of notes | Telefonica Brasil S.A. | Bond issued February 8, 2017 | |||||||||||
Entity Information [Line Items] | |||||||||||
Payments to redeem notes | R$ | R$ 1000 | ||||||||||
Redemption of notes | Telefónica Germany GmbH & Co. OHG | Bond issued February 10, 2014 | |||||||||||
Entity Information [Line Items] | |||||||||||
Payments to redeem notes | € 500 | ||||||||||
Redemption of notes | Telefónica Emisiones, S.A.U. | Notes issued February 16, 2021 | |||||||||||
Entity Information [Line Items] | |||||||||||
Payments to redeem notes | $ | $ 1,500 | ||||||||||
Disposal of subsidiary | InfraCo, SpA | KKR Alameda Aggregator L.P. | Telefónica Chile, S.A. | |||||||||||
Entity Information [Line Items] | |||||||||||
Proportion of voting equity transferred (as a percent) | 60.00% | 60.00% | |||||||||
Number of homes with fiber sold | home | 2 | 2 | |||||||||
Proceeds from exchange of share capital | € 800 | $ 1,000 |
Appendix I_ Scope of Consolid_3
Appendix I: Scope of Consolidation - Main Consolidated Companies of the Telefonica Group (Details) € in Millions, ₡ in Millions, ¥ in Millions, £ in Millions, S/ in Millions, R$ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, in Millions | 12 Months Ended | |||||||||||||||||
Dec. 31, 2020EUR (€) | Dec. 31, 2020GBP (£) | Dec. 31, 2020BRL (R$) | Dec. 31, 2020USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020CLP ($) | Dec. 31, 2020ARS ($) | Dec. 31, 2020VEF ( ) | Dec. 31, 2020COP ($) | Dec. 31, 2020MXN ($) | Dec. 31, 2020UYU ($) | Dec. 31, 2020CRC (₡) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019EUR (€) | Jan. 01, 2019EUR (€) | Dec. 31, 2018EUR (€) | Jan. 01, 2018EUR (€) | Dec. 31, 2017EUR (€) | |
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 18,260 | € 25,450 | € 26,996 | € 26,980 | € 29,229 | € 26,618 | ||||||||||||
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% | |||||||||||||||||
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 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% | |||||||||||||||||
TBSC Barcelona Producciones, S.L.U. Provision of audiovisual telecommunications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Audiovisual Digital, S.L.U. Provision of all type of audiovisual telecommunications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 46 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Compañía Independiente de Televisión, S.L. Provision of all type of audiovisual telecommunications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%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% | |||||||||||||||||
Buendía Producción, S.L. Service provision related to film and video production activities | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
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 | 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 | € 0 | |||||||||||||||||
%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% | |||||||||||||||||
O2 Telefónica Deutschland Finanzierungs GmbH Integrated cash management, consulting and financial support for Group companies | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 69.22% | |||||||||||||||||
Telefônica Brasil, S.A. Wireline telephony operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | R$ 63571 | |||||||||||||||||
%Telefónica Group | 73.69% | |||||||||||||||||
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 | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 29.77% | |||||||||||||||||
Telefônica Brasil, S.A. Wireline telephony operator | Sao Paulo Telecomunicaçoes Participaçoes Ltda Holding company | ||||||||||||||||||
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 | R$ | 0 | |||||||||||||||||
%Telefónica Group | 73.69% | |||||||||||||||||
Telefônica Infraestructura e Segurança Brasil Ltda. Security services and systems | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | 0 | |||||||||||||||||
%Telefónica Group | 73.69% | |||||||||||||||||
Telxius Telecom, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 260 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 507 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable España, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 5 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable República Dominicana, S.A.S. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 3 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable República Dominicana, S.A.S. Telecommunications service provider | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 49.51% | |||||||||||||||||
Telxius Cable República Dominicana, S.A.S. Telecommunications service provider | Telxius Cable España, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.50% | |||||||||||||||||
Telxius Cable Argentina, S.A. Operation and deployment of telecommunications infraestructure | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 78 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Argentina, S.A. Operation and deployment of telecommunications infraestructure | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 49.98% | |||||||||||||||||
Telxius Cable Argentina, S.A. Operation and deployment of telecommunications infraestructure | Telxius Cable España, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.03% | |||||||||||||||||
Telxius Cable Panamá, S.A. Installation and operation of telecommunications networks for wholesalers | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 17 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Puerto Rico, Inc. High capacity optical fibre network communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 24 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable USA, Inc. High bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 58 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Ecuador, S.A. Sale of usage of data transmission capacity via an underwater optical fibre network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 5 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Ecuador, S.A. Sale of usage of data transmission capacity via an underwater optical fibre network | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Telxius Cable Ecuador, S.A. Sale of usage of data transmission capacity via an underwater optical fibre network | Telxius Cable Perú, S.A.C. Involvement in the operation and deployment of international telecommunications services via underwater cables and others means | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telxius Cable Chile, S.A. Involvement in businesses related to public or private telecommunications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 37 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Guatemala, S.A. Installation and operation of telecommunications networks for wholesalers | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 24 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Perú, S.A.C. Involvement in the operation and deployment of international telecommunications services via underwater cables and others means | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 20 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 4 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 47.50% | |||||||||||||||||
Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Perú, S.A.C. Involvement in the operation and deployment of international telecommunications services via underwater cables and others means | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.84% | |||||||||||||||||
Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Chile, S.A. Involvement in businesses related to public or private telecommunications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.83% | |||||||||||||||||
Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Guatemala, S.A. Installation and operation of telecommunications networks for wholesalers | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.83% | |||||||||||||||||
Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Argentina, S.A. Operation and deployment of telecommunications infraestructure | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telxius Cable Brasil Participaçoes, Ltda. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 62 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Brasil, Ltda. Operation and deployment of telecommunications infrastructure | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 74 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 5 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 49.01% | |||||||||||||||||
Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | Telxius Cable España, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.50% | |||||||||||||||||
Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | Telxius Cable Argentina, S.A. Operation and deployment of telecommunications infraestructure | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.50% | |||||||||||||||||
Inmosites, S.A.U. Purchase and rental of real estate related to the telecommunications infrastructure business | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 13 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres Latam, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 8 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres España, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 10 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Towers Germany, Gmbh. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres Perú S.A.C. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | S/ | S/ 104 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres Chile Holding, S.A. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 8 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres Chile Holding, S.A. Holding company | Telxius Torres Latam, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Telxius Torres Chile Holding, S.A. Holding company | Telxius Torres España, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telxius Torres Chile, S.A. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 29,221 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres Brasil, Ltda. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | 1,352 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Inmosites Brasil Participaçoes Imobiliarias Ltda Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | 14 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres Argentina, S.A. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 2,097 | |||||||||||||||||
%Telefónica Group | 50.01% | |||||||||||||||||
Telxius Torres Argentina, S.A. Telecommunications service provider | Telxius Torres Latam, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 47.51% | |||||||||||||||||
Telxius Torres Argentina, S.A. Telecommunications service provider | Telxius Telecom, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 2.50% | |||||||||||||||||
Telefónica Hispam Norte | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Venezolana, C.A. Wireless communications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | | 12,576 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Venezolana, C.A. Wireless communications operator | Latin American Cellular Holdings | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 97.44% | |||||||||||||||||
Telefónica Venezolana, C.A. Wireless communications operator | Comtel Comunicaciones Telefonica | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 2.56% | |||||||||||||||||
Colombia Telecomunicaciones, S.A. ESP Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 3,410 | |||||||||||||||||
%Telefónica Group | 67.50% | |||||||||||||||||
Colombia Telecomunicaciones, S.A. ESP Communications services operator | Telefónica Hispam Norte | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 67.50% | |||||||||||||||||
Operaciones Tecnológicas y Comerciales S.A.S Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 2,330 | |||||||||||||||||
%Telefónica Group | 67.50% | |||||||||||||||||
Operaciones Tecnológicas y Comerciales S.A.S Communications services operator | Colombia Telecomunicaciones, S.A, ESP | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 67.50% | |||||||||||||||||
Telefónica Móviles México, S.A. de C.V. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 100,264 | |||||||||||||||||
%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 | $ | 47 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Fisatel Mexico, S.A. de C.V. Integrated cash mangement, consulting and financial support for Group companies | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 3,505 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Fisatel Mexico, S.A. de C.V. Integrated cash mangement, consulting and financial support for Group companies | Telefónica Hispam Norte | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Fisatel Mexico, S.A. de C.V. Integrated cash mangement, consulting and financial support for Group companies | Pegaso Pcs S.A. de CV | ||||||||||||||||||
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 Argentina, S.A. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 64,520 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 13.08% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.14% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefónica Móviles Argentina, S.A. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 85.18% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefonica International Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.60% | |||||||||||||||||
Telefónica Móviles Argentina, S.A. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 9,251 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Móviles Argentina, S.A. Telecommunications service provider | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 25.28% | |||||||||||||||||
Telefónica Móviles Argentina, S.A. Telecommunications service provider | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 73.20% | |||||||||||||||||
Telefónica Móviles Argentina, S.A. Telecommunications service provider | Telefonica International Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.52% | |||||||||||||||||
Telefónica Móviles Chile, S.A. Wireless communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 1,364,872 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Móviles Chile, S.A. Wireless communications services operator | Telefónica Hispam Norte | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.04% | |||||||||||||||||
Telefónica Móviles Chile, S.A. Wireless communications services operator | Inversiones Telefonica Internacional Holding, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 98.96% | |||||||||||||||||
Telefónica Chile, S.A. Local and international long distance telephony services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 569,773 | |||||||||||||||||
%Telefónica Group | 99.14% | |||||||||||||||||
Telefónica Chile Holdings, S.L. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica del Perú, S.A.A. Local, domestic and international long distance telephone service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | S/ | 2,954 | |||||||||||||||||
%Telefónica Group | 98.94% | |||||||||||||||||
Media Networks Latin America, S.A.C Telecommunications research activities and proyects | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 91 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Móviles del Uruguay, S.A. Wireless communications and services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 1,107 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Infra, S.L. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Infra Germany GmbH Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica O2 Holdings Ltd. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 9 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica O2 Holdings Ltd. Holding company | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Telefónica O2 Holdings Ltd. 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 | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
O2 International Holdings Ltd. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
O2 (Netherlands ) Holdings BV. 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% | |||||||||||||||||
Sao Paulo Telecomunicaçoes Participaçoes Ltda Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | 14,804 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Sao Paulo Telecomunicaçoes Participaçoes Ltda Holding company | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 60.60% | |||||||||||||||||
Sao Paulo Telecomunicaçoes Participaçoes Ltda Holding company | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 39.40% | |||||||||||||||||
Telefónica International Wholesale Services II, S.L. International services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica USA, Inc. Telecommunications services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 202 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica International Wholesale Services México, S.A. Telecommunications research activities and proyects | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 31 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Digital España, S.L. Developer Telco Services Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 24 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Digital Ltd. Developer Telco Services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 66 | |||||||||||||||||
%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% | |||||||||||||||||
Wayra Chile Tecnología e Innovación Limitada Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 29,899 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Brasil Aceleradora de Projetos Ltda. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | 49 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
WY Telecom, S.A. de C.V. Talent identification and development in ICT | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 173 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Argentina, S.A. Talent identification and development in ICT | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 382 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Argentina, S.A. Talent identification and development in ICT | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 5.00% | |||||||||||||||||
Wayra Argentina, S.A. Talent identification and development in ICT | Telefonica Open Innovation S.L. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 95.00% | |||||||||||||||||
Wayra Colombia, S.A.S. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 2,304 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Proyecto Wayra, C.A. Commercial, industrial and mercantile activities | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | | 75,422 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Perú Aceleradora de Proyectos, S.A.C. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | S/ | 28 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra UK Ltd. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Terra Networks Perú, S.A. ISP and portal | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | S/ | 10 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Terra Networks Argentina, S.A. ISP and portal | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 14 | |||||||||||||||||
%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% | |||||||||||||||||
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 On The Spot Services, S.A.U. Provision of telemarketing services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%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 | € 8 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
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% | |||||||||||||||||
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 | € 0 | |||||||||||||||||
%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 | € 24 | |||||||||||||||||
%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% | |||||||||||||||||
Telefónica Europe, B.V. Fund raising in capital markets | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 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% | |||||||||||||||||
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 Serviços Empresariais do BRASIL, Ltda. Management and administrative services rendered | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | 48 | |||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Telefónica Gestión Integral de Edificios y Servicios S.L. Management and administrative services rendered | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 29 | |||||||||||||||||
%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% | |||||||||||||||||
Telefónica Innovación Alpha, S.L. Electronic communications and audiovisual services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Servicios Globales, S.L.U. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Holding Atticus, B.V. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Soluciones de Criptografía, S.A. Engineering, research and development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Centroamérica Inversiones ,S.L. Communications services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telefónica Tech S.L. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 5 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Cybersecurity & Cloud Tech SL. Ciberseguridad, seguridad de información electrónica y consultoría informática | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 8 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Cybersecurity & Cloud Tech Chile SpA. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 10,001 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Tech Inc. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Cyberrange S.L. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
iHackLabs Ltd. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Ace & Niu Consulting S.L. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 48 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Audertis Audit Services S.L. Provision of audit services in the areas of security, privacy and data protection | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Govertis Advisory Services S.L. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Govertis Advisory Services Perú S.A.C. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | S/ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Cybersecurity Tech Colombia S.A.S. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 406 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Cybersecurity Tech UK Limited Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Cybersecurity Tech Mexico, S.A de C.V. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Cybersecurity Tech Mexico, S.A de C.V. Cybersecurity, electronic information security and IT consulting | Pegaso Pcs S.A. de CV | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.00% | |||||||||||||||||
Telefonica Cybersecurity Tech Mexico, S.A de C.V. Cybersecurity, electronic information security and IT consulting | Telefónica Cybersecurity & Cloud Tech SL. Ciberseguridad, seguridad de información electrónica y consultoría informática | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.00% | |||||||||||||||||
Telefônica Cibersegurança e Tecnología do Brasil Ltda Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | R$ | 26 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Cybersecurity & Cloud Tech Perú S.A.C Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | S/ | 24 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Cybersecurity & Cloud Tech Perú S.A.C Cybersecurity, electronic information security and IT consulting | Telefónica Cybersecurity & Cloud Tech SL. Ciberseguridad, seguridad de información electrónica y consultoría informática | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Telefónica Cybersecurity & Cloud Tech Perú S.A.C Cybersecurity, electronic information security and IT consulting | Telefonica Servicios Tiws S.A.C. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telefonica Cybersecurity Tech Ecuador Tctech S.A. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Cybersecurity Tech Ecuador Tctech S.A. Cybersecurity, electronic information security and IT consulting | Otecel, S.A. Wireless communications services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.00% | |||||||||||||||||
Telefonica Cybersecurity Tech Ecuador Tctech S.A. Cybersecurity, electronic information security and IT consulting | TIWS Ecuador II S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.00% | |||||||||||||||||
Telefónica Cybersecurity Tech Argentina S.A. Cybersecurity, electronic information security and IT consulting | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Cybersecurity Tech Argentina S.A. Cybersecurity, electronic information security and IT consulting | Telefónica de Argentina, S.A. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 95.00% | |||||||||||||||||
Telefónica Cybersecurity Tech Argentina S.A. Cybersecurity, electronic information security and IT consulting | TIWS Argentina II S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 5.00% | |||||||||||||||||
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 | Telefónica Centroamérica Inversiones ,S.L. Communications services provider | ||||||||||||||||||
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 S.A. de C.V. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.12% | |||||||||||||||||
Pontel Participaciones, S.L. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 83.35% | |||||||||||||||||
Telefónica de Costa Rica TC, S.A. Wireless communications | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | ₡ | ₡ 182,522 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Factoring España, S.A. Factoring services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | € 5 | |||||||||||||||||
Telefónica Factoring Do Brasil, Ltd. Factoring services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | R$ | R$ 5 | |||||||||||||||||
Telefónica Factoring Do Brasil, Ltd. Factoring services provider | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 40.00% | |||||||||||||||||
Telefónica Factoring Do Brasil, Ltd. Factoring services provider | Telefonica Factoring Espana | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 10.00% | |||||||||||||||||
Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | $ | $ 34 | |||||||||||||||||
Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 40.50% | |||||||||||||||||
Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | Telefonica Factoring Espana | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 9.50% | |||||||||||||||||
Telefónica Factoring Perú, S.A.C. Factoring services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | S/ | 6 | |||||||||||||||||
Telefónica Factoring Perú, S.A.C. Factoring services provider | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 40.50% | |||||||||||||||||
Telefónica Factoring Perú, S.A.C. Factoring services provider | Telefonica Factoring Espana | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 9.50% | |||||||||||||||||
Telefónica Factoring Colombia, S.A. Factoring services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | $ | $ 4,000 | |||||||||||||||||
Telefónica Factoring Colombia, S.A. Factoring services provider | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 40.50% | |||||||||||||||||
Telefónica Factoring Colombia, S.A. Factoring services provider | Telefonica Factoring Espana | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 9.50% | |||||||||||||||||
Telefónica Factoring Chile, SpA. Factoring services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 547 | |||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Telefónica Factoring Chile, SpA. Factoring services provider | Telefónica Factoring España, S.A. Factoring services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Mobile Financial Services Holding SPRL Financial services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | $ | $ 197 | |||||||||||||||||
Mobile Financial Services Holding SPRL Financial services | Telefonica International Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 26.28% | |||||||||||||||||
Mobile Financial Services Holding SPRL Financial services | Telefonica Holding Atticus, B.V. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 23.72% | |||||||||||||||||
Telefónica Consumer Finance, Establecimiento Financiero de Crédito, S.A. Specialised credit institution | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | € 5 | |||||||||||||||||
Tesco Mobile Ltd. Wireless telephony services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | £ | £ 0 | |||||||||||||||||
The Smart Steps Data Technology Company Big data services in China | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 37.50% | |||||||||||||||||
Investments accounted for by the equity method | ¥ | ¥ 0 | |||||||||||||||||
Internet para todos S.A.C Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 54.67% | |||||||||||||||||
Investments accounted for by the equity method | S/ | S/ 0 | |||||||||||||||||
Prosegur Alarmas España S.L. Private security services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | € 0 | |||||||||||||||||
Buendía Estudios, S.L. Service provision related to film and video production activities | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Investments accounted for by the equity method | € 0 | |||||||||||||||||
UGG TopCo/HoldCo General Partner GmbH. Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 46.92% | |||||||||||||||||
Investments accounted for by the equity method | € 0 | |||||||||||||||||
UGG TopCo/HoldCo General Partner GmbH. Broadband telecommunications operator | Telefonica Deutschland Holding A.G. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 6.92% | |||||||||||||||||
UGG TopCo/HoldCo General Partner GmbH. Broadband telecommunications operator | Telefónica Infra Germany GmbH Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 40.00% | |||||||||||||||||
UGG TopCo GmbH & Co KG Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 46.92% | |||||||||||||||||
Investments accounted for by the equity method | € 10 | |||||||||||||||||
UGG TopCo GmbH & Co KG Broadband telecommunications operator | Telefonica Deutschland Holding A.G. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 6.92% | |||||||||||||||||
UGG TopCo GmbH & Co KG Broadband telecommunications operator | Telefónica Infra Germany GmbH Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 40.00% | |||||||||||||||||
UGG HoldCo GmbH& Co KG Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 46.92% | |||||||||||||||||
Investments accounted for by the equity method | € 4 | |||||||||||||||||
UGG General Partner GmbH Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 46.92% | |||||||||||||||||
Investments accounted for by the equity method | € 0 | |||||||||||||||||
Unsere Grüne Glasfaser GmbH & Co KG Broadband telecommunications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 46.92% | |||||||||||||||||
Investments accounted for by the equity method | € 4 |
Appendix I_ Scope of Consolid_4
Appendix I: Scope of Consolidation - Main Changes in the Scope of Consolidation for the Year (Details) | Dec. 31, 2020 |
Telefónica Infra Germany GmbH Broadband telecommunications operator | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Cyberrange S.L. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
iHackLabs Ltd. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Ace & Niu Consulting S.L. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Audertis Audit Services S.L. Provision of audit services in the areas of security, privacy and data protection | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Govertis Advisory Services S.L. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Govertis Advisory Services Perú S.A.C. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Prosegur Alarmas España S.L. Private security services | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 50.00% |
UGG TopCo/HoldCo General Partner GmbH. Broadband telecommunications operator | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 46.92% |
UGG TopCo GmbH & Co KG Broadband telecommunications operator | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 46.92% |
UGG HoldCo GmbH& Co KG Broadband telecommunications operator | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 46.92% |
UGG General Partner GmbH Broadband telecommunications operator | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 46.92% |
Unsere Grüne Glasfaser GmbH & Co KG Broadband telecommunications operator | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 46.92% |
TBSC Barcelona Producciones, S.L.U. Provision of audiovisual telecommunications services | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Buendía Producción, S.L. Service provision related to film and video production activities | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 50.00% |
Telefónica Germany Mobilfunk Standortgesellschaft mbH. Telecommunications service provider | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefónica Cybersecurity & Cloud Tech Chile SpA. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefónica Cybersecurity Tech UK Limited Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefónica Cybersecurity & Cloud Tech Perú S.A.C Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefónica Cybersecurity & Cloud Tech SL. Ciberseguridad, seguridad de información electrónica y consultoría informática | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefonica Cybersecurity Tech Mexico, S.A de C.V. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefonica Cybersecurity Tech Ecuador Tctech S.A. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefónica Cybersecurity Tech Argentina S.A. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefónica Tech Inc. Cybersecurity, electronic information security and IT consulting | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Telefónica Infra, S.L. Holding company | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Inmosites Brasil Participaçoes Imobiliarias Ltda Telecommunications service provider | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 50.01% |
Buendía Estudios, S.L. Service provision related to film and video production activities | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 50.00% |
Telefónica Soluciones de Criptografía, S.A. Engineering, research and development | |
Disclosure of subsidiaries [line items] | |
% Acquisition | 100.00% |
Inmosites, S.A.U. Purchase and rental of real estate related to the telecommunications infrastructure business | |
Disclosure of subsidiaries [line items] | |
% Participation | 50.01% |
Telefónica Móviles Guatemala, S.A. Wireless, wireline and radio paging communications services provider | |
Disclosure of subsidiaries [line items] | |
% sold | 60.00% |
Telefonía Celular de Nicaragua, S.A. Wireless telephony services | |
Disclosure of subsidiaries [line items] | |
% sold | 60.00% |
Telefónica Móviles Panamá, S.A. Wireless telephony services | |
Disclosure of subsidiaries [line items] | |
% sold | 60.00% |
Seguros de Vida y Pensiones Antares, S.A. Life insurance, pensions and health insurance | |
Disclosure of subsidiaries [line items] | |
% sold | 100.00% |
Telefónica Gestión Logística, S.A.C Logistic service provider | |
Disclosure of subsidiaries [line items] | |
% sold | 100.00% |
Appendix II_ Board and Senior_3
Appendix II: Board and Senior Management Compensation - Compensation Allocation of Board and Senior Management (Details) - EUR (€) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Mr. José María Álvarez-Pallete López | ||
Disclosure of transactions between related parties [line items] | ||
Short-term variable compensation | € 3,447,734 | |
Mr. Ángel Vilá Boix | ||
Disclosure of transactions between related parties [line items] | ||
Short-term variable compensation | € 2,390,400 | |
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 | 3,111,960 | |
Compensation for belonging to Committees of the Board | 0 | |
Other items | 5,966 | |
Total | 5,041,026 | |
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 | 9,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 91,200 | |
Other items | 0 | |
Total | 300,200 | |
Directors | Mr. José Javier Echenique Landiríbar | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 200,000 | |
Attendance fees | 25,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 115,467 | |
Other items | 0 | |
Total | 340,467 | |
Directors | Mr. Ángel Vilá Boix | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 1,600,000 | |
Fixed Compensation | 0 | |
Attendance fees | 0 | |
Short-term variable compensation | 2,157,600 | |
Compensation for belonging to Committees of the Board | 0 | |
Other items | 19,440 | |
Total | 3,777,040 | |
Directors | Mr. Juan Ignacio Cirac Sasturain | ||
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 | 12,133 | |
Other items | 0 | |
Total | 142,133 | |
Directors | Mr. Peter Erskine | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 120,000 | |
Attendance fees | 19,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 113,600 | |
Other items | 0 | |
Total | 252,600 | |
Directors | Ms. Sabina Fluxà Thienemann | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 120,000 | |
Attendance fees | 4,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 3,733 | |
Other items | 0 | |
Total | 127,733 | |
Directors | Ms. Carmen García de Andrés | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 120,000 | |
Attendance fees | 24,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 22,400 | |
Other items | 0 | |
Total | 166,400 | |
Directors | Ms. María Luisa García Blanco | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 120,000 | |
Attendance fees | 22,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 22,400 | |
Other items | 0 | |
Total | 164,400 | |
Directors | Mr. Jordi Gual Solé | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 120,000 | |
Attendance fees | 20,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 22,400 | |
Other items | 0 | |
Total | 162,400 | |
Directors | Mr. Peter Löscher | ||
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 | 39,200 | |
Other items | 0 | |
Total | 189,200 | |
Directors | Mr. Ignacio Moreno Martínez | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 120,000 | |
Attendance fees | 35,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 44,800 | |
Other items | 0 | |
Total | 199,800 | |
Directors | Ms. Verónica Pascual Boé | ||
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. Francisco Javier de Paz Mancho | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 120,000 | |
Attendance fees | 31,000 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 124,800 | |
Other items | 0 | |
Total | 275,800 | |
Directors | Mr. Francisco José Riberas Mera | ||
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 | Ms. Claudia Sender Ramírez | ||
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 | |
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. José Javier Echenique Landiríbar | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 158,102 | |
Attendance fees | 0 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 0 | |
Other items | 0 | |
Total | 158,102 | |
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 | |
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. Peter Erskine | ||
Disclosure of transactions between related parties [line items] | ||
Salary | 0 | |
Fixed Compensation | 30,000 | |
Attendance fees | 0 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 0 | |
Other items | 0 | |
Total | 30,000 | |
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 | 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 | Ms. María Luisa García Blanco | ||
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. Jordi Gual Solé | ||
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 | 73,989 | |
Attendance fees | 0 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 0 | |
Other items | 0 | |
Total | 73,989 | |
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 | Ms. Verónica Pascual Boé | ||
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 | 285,553 | |
Attendance fees | 0 | |
Short-term variable compensation | 0 | |
Compensation for belonging to Committees of the Board | 0 | |
Other items | 0 | |
Total | 285,553 | |
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 | Ms. Claudia Sender Ramírez | ||
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 |
Appendix II_ Board and Senior_4
Appendix II: Board and Senior Management Compensation - Long-Term Savings Systems (Details) | 12 Months Ended |
Dec. 31, 2020EUR (€) | |
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 | 560,000 |
Mr. Ángel Vilá Boix | Pension plans | |
Disclosure of transactions between related parties [line items] | |
Contributions | 5,377 |
Mr. Ángel Vilá Boix | Benefits plan | |
Disclosure of transactions between related parties [line items] | |
Contributions | 487,840 |
Mr. Ángel Vilá Boix | Unit link-type Insurance/Pension Plan Surplus | |
Disclosure of transactions between related parties [line items] | |
Contributions | € 66,783 |
Appendix II_ Board and Senior_5
Appendix II: Board and Senior Management Compensation - Life Insurance Premiums (Details) - Life insurance premiums | 12 Months Ended |
Dec. 31, 2020EUR (€) | |
Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Life insurance premiums | € 19,978 |
Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Life insurance premiums | € 21,593 |
Appendix II_ Board and Senior_6
Appendix II: Board and Senior Management Compensation - Narrative (Details) | Jan. 01, 2018shares€ / shares | May 30, 2014EUR (€) | May 31, 2016EUR (€) | Dec. 31, 2020EUR (€)employeeshares | Dec. 31, 2019 | Dec. 31, 2018 |
Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Delivery percent (free cash flow generation, maximum compliance) | 50.00% | |||||
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 | |||||
PSP - Second Cycle / 2019-2022 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares authorized | shares | 382,291 | |||||
PSP - Third Cycle / 2020-2023 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares authorized | shares | 242,162 | |||||
Minimum | 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 | 300 | |||||
Maximum | 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 | |||||
FCF Objective | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted-average payment coefficient (as a percent) | 50.00% | 50.00% | 50.00% | |||
First Cycle | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
No. of shares assigned (shares) | shares | 8,466,996 | |||||
First Cycle | FCF Objective | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 6.4631 | |||||
First Cycle | TSR Objective | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 4.5160 | |||||
Directors | Global Employee Share Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
No. of shares assigned (shares) | employee | 1,340 | |||||
Maximum amount of shares an employee is allowed to purchase | € 150 | |||||
Number of shares which may be granted free of charge (shares) | shares | 670 | |||||
Directors | PSP - First Cycle / 2018-2021 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Delivery percent (if within median of performance) | 15.00% | |||||
Delivery percent (if within third quartile of performance) | 50.00% | |||||
Proportion of free cash flow generation minimum threshold of compliance (as a percent) | 90.00% | |||||
Proportion of free cash flow generation minimum compliance (as a percent) | 25.00% | |||||
Proportion of free cash flow generation maximum threshold of compliance (as a percent) | 100.00% | |||||
Delivery percent (free cash flow generation, maximum compliance) | 50.00% | |||||
Shares delivered subject to retention period of one year (as a percent) | 25.00% | |||||
Senior Management (Excluding Board Directors) | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Accrued fixed compensation | € 5,904,357 | |||||
In-kind compensation | € 83,648 | |||||
Senior Management (Excluding Board Directors) | First Cycle | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
No. of shares assigned (shares) | shares | 344,570 | |||||
Senior Management (Excluding Board Directors) | First Cycle | FCF Objective | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 6.4631 | |||||
Senior Management (Excluding Board Directors) | First Cycle | TSR Objective | Performance and Investment Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair value of shares assigned (EUR per share) | € / shares | € 4.5160 | |||||
Executive Directors | Global Employee Share Plan | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
No. of shares assigned (shares) | employee | 335 | |||||
Number of shares which may be granted free of charge (shares) | shares | 167 | |||||
Mr. Santiago Fernandez Valbuena | Senior Management (Excluding Board Directors) | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Key management personnel compensation | € 927,898 | |||||
Benefits plan | Senior Management (Excluding Board Directors) | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Contributions | € 21,508 | |||||
Pension plans | Senior Management (Excluding Board Directors) | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Contributions | € 115,744 |
Appendix II_ Board and Senior_7
Appendix II: Board and Senior Management Compensation - PSP (Details) | 12 Months Ended |
Dec. 31, 2020shares | |
Mr. José María Álvarez-Pallete López | PSP - Second Cycle / 2019-2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Theoretical shares allocated (without co-investment) | 468,000 |
Mr. José María Álvarez-Pallete López | PSP - Third Cycle / 2020-2023 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Theoretical shares allocated (without co-investment) | 267,000 |
Mr. Ángel Vilá Boix | PSP - Second Cycle / 2019-2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Theoretical shares allocated (without co-investment) | 347,000 |
Mr. Ángel Vilá Boix | PSP - Third Cycle / 2020-2023 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Theoretical shares allocated (without co-investment) | 198,000 |
Appendix III_ Debentures and _3
Appendix III: Debentures and Bonds - Maturity (Details) € in Millions, $ in Millions | Dec. 31, 2020EUR (€) | Dec. 31, 2020COP ($) |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 36,502 | |
2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,321 | |
2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,675 | |
2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2,292 | |
2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,140 | |
2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,082 | |
Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 21,992 | |
Colombia Telecomunicaciones, S.A, ESP | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 408 | $ 500 |
Colombia Telecomunicaciones, S.A, ESP | Fixed interest rate | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.95% | 4.95% |
Spain | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 33,129 | |
Spain | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,509 | |
Spain | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,055 | |
Spain | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2,111 | |
Spain | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2,250 | |
Spain | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 21,204 | |
Spain | Telefónica Europe, B.V. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,499 | |
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 | 999 | |
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. | 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. | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2023 | 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. | 2023 | 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. | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2024 | 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. | 2024 | 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. | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2025 | 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. | 2025 | 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 | 1,499 | |
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 | 999 | |
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% | 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% | 5.875% |
Spain | Telefónica Emisiones, S.A.U. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 31,030 | |
Spain | Telefónica Emisiones, S.A.U. | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 557 | |
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 | 1,630 | |
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 MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,015 | |
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 | 724 | |
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 | 445 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,223 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 139 | |
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 | 872 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 611 | |
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 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 | 759 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,110 | |
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 | 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 | 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 | 1,223 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,630 | |
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 | 163 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 408 | |
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. | TELEF. EMISIONES JANUARY 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,019 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 611 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES SEPTEMBER 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES FEBRUARY 2019 GREEN B. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,019 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES JULY 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES MAY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES FEBRUARY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES MAY 2020,2 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 750 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES JULY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2,909 | |
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 MAY 2014 | ||
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 | 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 | 1,223 | |
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 | 872 | |
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 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 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 | 759 | |
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 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 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. | 2021 | TELEF. EMISIONES JANUARY 2018 | ||
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 2018 | ||
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 2018 | ||
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 2018 | ||
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 2019 GREEN 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 MARCH 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 MARCH 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 JULY 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 MAY 2020 | ||
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 2020 | ||
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 2020,2 | ||
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 2020 | ||
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 | 3,055 | |
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 MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,015 | |
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 | 724 | |
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 DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 139 | |
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 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 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 | 1,110 | |
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 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 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. | 2022 | TELEF. EMISIONES JANUARY 2018 | ||
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 2018 | ||
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 2018 | ||
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 2018 | ||
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 2019 GREEN 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 MARCH 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 MARCH 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 JULY 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 MAY 2020 | ||
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 2020 | ||
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 2020,2 | ||
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 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2,111 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 611 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | TELEF. EMISIONES JANUARY 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES SEPTEMBER 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES FEBRUARY 2019 GREEN B. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES JULY 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF EMISIONES MAY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF EMISIONES FEBRUARY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF EMISIONES MAY 2020,2 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2023 | TELEF EMISIONES JULY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | TELEF. EMISIONES JANUARY 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES SEPTEMBER 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES FEBRUARY 2019 GREEN B. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES JULY 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF EMISIONES MAY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF EMISIONES FEBRUARY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF EMISIONES MAY 2020,2 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2024 | TELEF EMISIONES JULY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2,250 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | TELEF. EMISIONES JANUARY 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES SEPTEMBER 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES FEBRUARY 2019 GREEN B. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES JULY 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF EMISIONES MAY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF EMISIONES FEBRUARY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF EMISIONES MAY 2020,2 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2025 | TELEF EMISIONES JULY 2020 | ||
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 | 19,705 | |
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 | 557 | |
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 | 1,630 | |
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 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 | 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 | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 445 | |
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 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 | 0 | |
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 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 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 | 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 | 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 | 1,223 | |
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 | 1,630 | |
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 | 163 | |
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 | 408 | |
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. | Subsequent years | TELEF. EMISIONES JANUARY 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,019 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 611 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES SEPTEMBER 2018 | ||
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 2019 GREEN 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 MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,019 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JULY 2019 | ||
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 MAY 2020 | ||
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 FEBRUARY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES MAY 2020,2 | ||
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 JULY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 500 | |
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% | 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% | 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% | 2.242% |
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% | 5.289% |
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% | 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% | 5.462% |
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% | 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% | 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% | 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) | 4.57% | 4.57% |
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% | 2.932% |
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% | 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% | 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% | 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) | 1.93% | 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% | 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% | 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% | 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% | 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% | 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% | 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% | 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% | 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% | 1.715% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JANUARY 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.447% | 1.447% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.895% | 4.895% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.665% | 4.665% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES SEPTEMBER 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.495% | 1.495% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES FEBRUARY 2019 GREEN B. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.069% | 1.069% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.788% | 1.788% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.52% | 5.52% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JULY 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.957% | 1.957% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES MAY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.201% | 1.201% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES FEBRUARY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.664% | 0.664% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES MAY 2020,2 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.807% | 1.807% |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES JULY 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.864% | 1.864% |
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% | 0.83% |
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% | 0.83% |
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 | 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 | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2023 | Exchangeable Bond MARCH 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2024 | Exchangeable Bond MARCH 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2025 | 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 | |
Outside of Parent Country | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,373 | |
Outside of Parent Country | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 812 | |
Outside of Parent Country | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 620 | |
Outside of Parent Country | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 181 | |
Outside of Parent Country | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 140 | |
Outside of Parent Country | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 832 | |
Outside of Parent Country | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 788 | |
Outside of Parent Country | Telefónica Chile, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 452 | |
Outside of Parent Country | Telefónica Chile, S.A. | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 44 | |
Outside of Parent Country | Telefónica Chile, S.A. | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 408 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 22 | |
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 | 22 | |
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 | 408 | |
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 | 408 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 22 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2023 | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 22 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2023 | 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. | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2024 | 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. | 2024 | 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. | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2025 | 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. | 2025 | 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. | Subsequent years | ||
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 | 0 | |
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 T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.90% | 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% | 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 | € 288 | |
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 | 100 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Bond O | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 80 | |
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 | 108 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 108 | |
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 O | ||
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 | 108 | |
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 O | ||
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. | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 100 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2023 | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 100 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2023 | Bond O | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2023 | 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. | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2024 | 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. | 2024 | Bond O | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2024 | 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. | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 80 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2025 | 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. | 2025 | Bond O | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 80 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2025 | 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 | 0 | |
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 | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Subsequent years | Bond O | ||
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% | 3.60% |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Fixed interest rate | Bond O | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.50% | 3.50% |
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% | 4.90% |
Outside of Parent Country | Telefónica del Perú, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 690 | |
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 | 20 | |
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 | 16 | |
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 | 15 | |
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 | 6 | |
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 | 7 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (17th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 14 | |
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 | 59 | |
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 | 27 | |
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 | 32 | |
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 | 23 | |
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 | 30 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (16th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 24 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (12th Serie B) | ||
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 1st Private Program (1st Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 18 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 1st Program International Issue (1sr Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 383 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 23 | |
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 (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 Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 7 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 6th Program (17th 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 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 (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 T. Peru 6th Program (16th 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 (12th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 16 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 1st Private Program (1st 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 1st Program International Issue (1sr 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 | 55 | |
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 (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 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 (17th 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 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 (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 32 | |
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 | 23 | |
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 T. Peru 6th Program (16th 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 (12th 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 1st Private Program (1st 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 1st Program International Issue (1sr 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. | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 59 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | Bond T. Peru 6th Program (17th 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. | 2023 | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 59 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | Bond T. Peru 6th Program (16th 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. | 2023 | Bond T. Peru 6th Program (12th 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. | 2023 | Bond T. Peru 1st Private Program (1st 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. | 2023 | Bond T. Peru 1st Program International Issue (1sr 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. | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 57 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | Bond T. Peru 6th Program (17th 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. | 2024 | 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. | 2024 | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 27 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2024 | 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. | 2024 | 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. | 2024 | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 30 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2024 | Bond T. Peru 6th Program (16th 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. | 2024 | Bond T. Peru 6th Program (12th 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. | 2024 | Bond T. Peru 1st Private Program (1st 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. | 2024 | Bond T. Peru 1st Program International Issue (1sr 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. | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 152 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | Bond T. Peru 6th Program (17th 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | Bond T. Peru 6th Program (16th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 24 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2025 | Bond T. Peru 6th Program (12th 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. | 2025 | Bond T. Peru 1st Private Program (1st 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. | 2025 | Bond T. Peru 1st Program International Issue (1sr Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 128 | |
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 | 344 | |
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 | 20 | |
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 | 16 | |
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 | 15 | |
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 | 6 | |
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 (17th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 14 | |
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 | 0 | |
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 | 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 | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 6th Program (16th 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 (12th 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 1st Private Program (1st Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 18 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 1st Program International Issue (1sr Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 255 | |
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) | 6.656% | 6.656% |
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) | 6.188% | 6.188% |
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% | 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) | 5.344% | 5.344% |
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) | 5.469% | 5.469% |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (16th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.50% | 5.50% |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (12th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.188% | 4.188% |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 1st Private Program (1st Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 7.281% | 7.281% |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 1st Program International Issue (1sr Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 7.375% | 7.375% |
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% | 3.625% |
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% | 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% | 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% | 3.1875% |
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% | 3.50% |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 6th Program (17th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.09375% | 3.09375% |
Outside of Parent Country | Telefônica Brasil, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 316 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 314 | |
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 | 0 | |
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 | 1 | |
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 | 1 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 159 | |
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 | 157 | |
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 | 0 | |
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 | 1 | |
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 | 1 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 157 | |
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 | 157 | |
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. | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2023 | 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. | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2024 | 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. | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2025 | 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. | 2025 | 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. | 2025 | 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. | 2025 | 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 ( 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) | 8.25% | 8.25% |
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% | 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% | 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% | 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 | € 527 | |
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 | 408 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Bond A5 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 83 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Bond C10 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 36 | |
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 | 2021 | Bond A5 | ||
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 C10 | ||
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 | 0 | |
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 | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2022 | Bond A5 | ||
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 | Bond C10 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2023 | 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 | 2023 | Bond A5 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2023 | Bond C10 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 83 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2024 | 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 | 2024 | Bond A5 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 83 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2024 | Bond C10 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2025 | 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 | 2025 | Bond A5 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2025 | Bond C10 | ||
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 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 444 | |
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 | 408 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Subsequent years | Bond A5 | ||
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 C10 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 36 | |
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) | 4.95% | 4.95% |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Fixed interest rate | Bond A5 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 6.65% | 6.65% |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Floating interest rate | Bond C10 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.39% | 3.39% |
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 | 500 | |
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 | 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 | 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 | 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 | 2023 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2023 | 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 | 2023 | 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 | 2024 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2024 | 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 | 2024 | 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 | 2025 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 600 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2025 | 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 | 2025 | 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 | 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) | 2.375% | 2.375% |
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) | 1.75% | 1.75% |
Appendix III_ Debentures and _4
Appendix III: Debentures and Bonds - Debentures and Bonds Issued (Details) € in Millions, $ in Millions, $ in Millions | Dec. 31, 2020EUR (€) | Dec. 31, 2020USD ($) | Dec. 31, 2020COP ($) |
Disclosure of detailed information about borrowings [line items] | |||
Debentures and bonds | € 36,502 | ||
Telefónica Emisiones, S.A.U. | EMTN Bond | |||
Disclosure of detailed information about borrowings [line items] | |||
Debentures and bonds | € 1,000 | ||
Telefónica Emisiones, S.A.U. | EMTN Bond | Fixed interest rate | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 0.664% | 0.664% | 0.664% |
Telefónica Emisiones, S.A.U. | SHELF Bond | |||
Disclosure of detailed information about borrowings [line items] | |||
Debentures and bonds | € 1,250 | $ 1,250 | |
Telefónica Emisiones, S.A.U. | SHELF Bond | Fixed interest rate | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 1.201% | 1.201% | 1.201% |
Telefónica Emisiones, S.A.U. | EMTN Bond | |||
Disclosure of detailed information about borrowings [line items] | |||
Debentures and bonds | € 750 | ||
Telefónica Emisiones, S.A.U. | EMTN Bond | Fixed interest rate | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 1.807% | 1.807% | 1.807% |
Telefónica Emisiones, S.A.U. | EMTN Bond | |||
Disclosure of detailed information about borrowings [line items] | |||
Debentures and bonds | € 500 | ||
Telefónica Emisiones, S.A.U. | EMTN Bond | Fixed interest rate | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 1.864% | 1.864% | 1.864% |
Colombia Telecomunicaciones, S.A, ESP | Bond | |||
Disclosure of detailed information about borrowings [line items] | |||
Debentures and bonds | € 408 | $ 500 | |
Colombia Telecomunicaciones, S.A, ESP | Bond | Fixed interest rate | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 4.95% | 4.95% | 4.95% |
Appendix IV_ Financial Instru_3
Appendix IV: Financial Instruments - Summary (Details) € in Millions | Dec. 31, 2020EUR (€) |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 38,880 |
EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 26,386 |
Spread (as a percent) | (0.02%) |
Interest rate (as a percent) | 4.43% |
CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (65) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (0.25%) |
GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 7,630 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.31% |
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 | € (164) |
Spread (as a percent) | (0.79%) |
Interest rate (as a percent) | 5.37% |
UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 5 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 11.18% |
ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (115) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 22.21% |
BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 2,172 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 1.49% |
CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 997 |
Spread (as a percent) | (0.24%) |
Interest rate (as a percent) | 2.82% |
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 | € 644 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 6.98% |
VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 78 |
Spread (as a percent) | 3.24% |
Interest rate (as a percent) | 0.00% |
COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1,233 |
Spread (as a percent) | 2.02% |
Interest rate (as a percent) | 4.82% |
VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (3) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 82 |
Spread (as a percent) | (2.35%) |
Interest rate (as a percent) | 4.45% |
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 | € 14,375 |
Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 15,014 |
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 | 333 |
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 | (1,109) |
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 | (1) |
Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (667) |
Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 264 |
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 | 7 |
Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 78 |
Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 447 |
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 | 9 |
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 | 24,393 |
Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 11,372 |
Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (65) |
Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 7,185 |
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 | 945 |
Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 5 |
Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (114) |
Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 2,839 |
Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 733 |
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 | 637 |
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 | 786 |
Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (3) |
Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 73 |
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 | 112 |
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 | 112 |
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 | 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 | 39,434 |
Fair value | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 26,177 |
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 | € (65) |
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 | € 8,330 |
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 | € (121) |
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 | € 5 |
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 | € (114) |
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 | € 2,179 |
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 | € 1,014 |
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 | € (12) |
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 | € 649 |
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 | € 79 |
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 | € 1,239 |
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 | € 81 |
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 | € (5) |
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 | € 14,538 |
Fair value | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 15,312 |
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 | 334 |
Fair value | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (1,510) |
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 | (1) |
Fair value | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (660) |
Fair value | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 265 |
Fair value | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (12) |
Fair value | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 7 |
Fair value | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 79 |
Fair value | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 715 |
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 | 9 |
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 | 24,750 |
Fair value | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 10,865 |
Fair value | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (65) |
Fair value | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 7,885 |
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 | 1,389 |
Fair value | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 5 |
Fair value | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (113) |
Fair value | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 2,839 |
Fair value | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 749 |
Fair value | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 642 |
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 | 524 |
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 | 72 |
Fair value | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (5) |
Fair value | Rate cap | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 111 |
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 | 111 |
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 | Underlying debt | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 39,447 |
Fair value | Underlying debt | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 19,088 |
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 | € 1,590 |
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 | € 151 |
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 | € 18,790 |
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 | € (4) |
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 | € (114) |
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 | € (496) |
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 | € (194) |
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 | € 100 |
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 | € 441 |
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 | € 79 |
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 | € (25) |
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 | € (72) |
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 | € 116 |
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 | € 1,080 |
Fair value | Underlying debt | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 518 |
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 | (1) |
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 | 814 |
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 | (1) |
Fair value | Underlying debt | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (692) |
Fair value | Underlying debt | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (3) |
Fair value | Underlying debt | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 100 |
Fair value | Underlying debt | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 7 |
Fair value | Underlying debt | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 79 |
Fair value | Underlying debt | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 250 |
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 | 9 |
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 | 38,256 |
Fair value | Underlying debt | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 18,570 |
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 | 1,480 |
Fair value | Underlying debt | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 151 |
Fair value | Underlying debt | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 17,976 |
Fair value | Underlying debt | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (4) |
Fair value | Underlying debt | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (113) |
Fair value | Underlying debt | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 196 |
Fair value | Underlying debt | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (191) |
Fair value | Underlying debt | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 434 |
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 | (275) |
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 | (81) |
Fair value | Underlying debt | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 116 |
Fair value | Underlying debt | Rate cap | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 111 |
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 | 111 |
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 | Derivative instruments | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (13) |
Fair value | Derivative instruments | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 7,089 |
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 | € (65) |
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 | € 6,740 |
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 | € (150) |
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 | € (18,911) |
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 | € 9 |
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 | € 2,675 |
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 | € 1,208 |
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 | € (112) |
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 | € 208 |
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 | € 1,264 |
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 | € 153 |
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 | € (121) |
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 | € 13,458 |
Fair value | Derivative instruments | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 14,794 |
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 | 335 |
Fair value | Derivative instruments | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (2,324) |
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 | 32 |
Fair value | Derivative instruments | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 268 |
Fair value | Derivative instruments | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (112) |
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 | 465 |
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 | 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 | (13,506) |
Fair value | Derivative instruments | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (7,705) |
Fair value | Derivative instruments | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (65) |
Fair value | Derivative instruments | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 6,405 |
Fair value | Derivative instruments | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (150) |
Fair value | Derivative instruments | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (16,587) |
Fair value | Derivative instruments | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 9 |
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 | 2,643 |
Fair value | Derivative instruments | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 940 |
Fair value | Derivative instruments | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 208 |
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 | 799 |
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 | 153 |
Fair value | Derivative instruments | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (121) |
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 | Option contract | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 35 |
Financial instruments, at fair value | 35 |
2021 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (9,466) |
Spread (as a percent) | (0.09%) |
Interest rate (as a percent) | (0.33%) |
2021 | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (65) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (0.25%) |
2021 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 6,874 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (0.18%) |
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 | € (649) |
Spread (as a percent) | (0.05%) |
Interest rate (as a percent) | 2.47% |
2021 | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 5 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 11.18% |
2021 | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (122) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 23.94% |
2021 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1,885 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 1.48% |
2021 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 269 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 4.09% |
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 | € 24 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 13.80% |
2021 | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 7 |
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 | € 407 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.08% |
2021 | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (4) |
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 | € 65 |
Spread (as a percent) | (2.73%) |
Interest rate (as a percent) | 4.37% |
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 | € 6,490 |
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 | (1) |
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 | (1,622) |
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 | (813) |
2021 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
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 | 7 |
2021 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
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 | 8 |
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 | (15,956) |
2021 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (65) |
2021 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 6,875 |
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 | 973 |
2021 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 5 |
2021 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (122) |
2021 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 2,698 |
2021 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 269 |
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 | 24 |
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 | 407 |
2021 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (4) |
2021 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 57 |
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 | 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 | € 3,483 |
Spread (as a percent) | (0.04%) |
Interest rate (as a percent) | 1.34% |
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 | € 143 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (1.97%) |
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 | € (16) |
Spread (as a percent) | 3.50% |
Interest rate (as a percent) | (34.45%) |
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 | € 7 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 49.43% |
2022 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 229 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 2.59% |
2022 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 323 |
Spread (as a percent) | (0.85%) |
Interest rate (as a percent) | 0.20% |
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 | € 80 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 4.26% |
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 | € 46 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 2.67% |
2022 | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1 |
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 | € 17 |
Spread (as a percent) | 0.11% |
Interest rate (as a percent) | 4.59% |
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 | € 870 |
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 | 334 |
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 | 12 |
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 | (1) |
2022 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 132 |
2022 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 261 |
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 | 7 |
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 | 0 |
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 | 1 |
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 | 2,613 |
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 | (247) |
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 | (28) |
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 | 8 |
2022 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 97 |
2022 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 62 |
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 | 73 |
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 | 46 |
2022 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1 |
2022 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 16 |
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 | 56 |
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 | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 3,140 |
Spread (as a percent) | 0.12% |
Interest rate (as a percent) | 2.82% |
2023 | 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% |
2023 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 56 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2023 | 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% |
2023 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (1) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (2670.83%) |
2023 | 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% |
2023 | 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% |
2023 | BRL | |
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% |
2023 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 294 |
Spread (as a percent) | 57.81% |
Interest rate (as a percent) | 2.18% |
2023 | 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% |
2023 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 59 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 6.66% |
2023 | 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% |
2023 | COP | |
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% |
2023 | 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% |
2023 | MXN | |
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% |
2023 | 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% |
2023 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 2,048 |
2023 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 3 |
2023 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1,092 |
2023 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (1) |
2023 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 291 |
2023 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 59 |
2023 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 56 |
2023 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2023 | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 2,163 |
Spread (as a percent) | 0.20% |
Interest rate (as a percent) | 1.82% |
2024 | 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% |
2024 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2024 | 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% |
2024 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 122 |
Spread (as a percent) | 0.67% |
Interest rate (as a percent) | 0.00% |
2024 | 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% |
2024 | 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% |
2024 | BRL | |
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% |
2024 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 34 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 1.90% |
2024 | 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% |
2024 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 57 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.81% |
2024 | 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% |
2024 | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 83 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 6.65% |
2024 | 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% |
2024 | MXN | |
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% |
2024 | 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% |
2024 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 794 |
2024 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 122 |
2024 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1,369 |
2024 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 34 |
2024 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 57 |
2024 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 83 |
2024 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2024 | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 3,705 |
Spread (as a percent) | 0.15% |
Interest rate (as a percent) | 1.71% |
2025 | 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% |
2025 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2025 | 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% |
2025 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (29) |
Spread (as a percent) | (23.41%) |
Interest rate (as a percent) | 0.00% |
2025 | 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% |
2025 | 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% |
2025 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 45 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2025 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 80 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 3.20% |
2025 | 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% |
2025 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 151 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 7.08% |
2025 | 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% |
2025 | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 661 |
Spread (as a percent) | 2.02% |
Interest rate (as a percent) | 3.54% |
2025 | 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% |
2025 | MXN | |
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% |
2025 | 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% |
2025 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 565 |
2025 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (29) |
2025 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 447 |
2025 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 3,140 |
2025 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 45 |
2025 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 80 |
2025 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 151 |
2025 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 214 |
2025 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2025 | 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 | € 23,361 |
Spread (as a percent) | (0.03%) |
Interest rate (as a percent) | 1.60% |
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 | € 557 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.38% |
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 | € 409 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
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 | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 13 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 1.86% |
Subsequent years | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (3) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (0.01%) |
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 | € 273 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 7.37% |
Subsequent years | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 71 |
Spread (as a percent) | 3.21% |
Interest rate (as a percent) | 0.00% |
Subsequent years | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 36 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 8.09% |
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 | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
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 | € 4,247 |
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 | 0 |
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 | 408 |
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 | 14 |
Subsequent years | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
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 | 71 |
Subsequent years | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
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 | 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 | 19,114 |
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 | 557 |
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 | 1 |
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 | 0 |
Subsequent years | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (1) |
Subsequent years | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (3) |
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 | 273 |
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 | 36 |
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 | 0 |
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 | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Appendix IV_ Financial Instru_4
Appendix IV: Financial Instruments - Interest Rate Swaps (Details) - Interest rate swaps € in Millions | Dec. 31, 2020EUR (€) |
Non trading purposes | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (388) |
Non trading purposes | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (5) |
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 | 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 | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | 2025 | 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 | 1 |
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) | 1.11% |
Average spread (as a percent) | 0.47% |
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) | 1.91% |
Average spread (as a percent) | 1.18% |
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) | 1.71% |
Average spread (as a percent) | 0.60% |
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) | 1.61% |
Average spread (as a percent) | 1.68% |
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) | 1.02% |
Average spread (as a percent) | 1.06% |
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) | 1.73% |
Average spread (as a percent) | 0.92% |
Non trading purposes | Fixed to floating | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.50% |
Average spread (as a percent) | 0.46% |
Non trading purposes | Fixed to floating | 2023 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.74% |
Average spread (as a percent) | 1.77% |
Non trading purposes | Fixed to floating | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.80% |
Average spread (as a percent) | 0.24% |
Non trading purposes | Fixed to floating | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 3.55% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.59% |
Average spread (as a percent) | 0.32% |
Non trading purposes | Fixed to floating | 2025 | 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 | 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) | 0.52% |
Average spread (as a percent) | 0.05% |
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) | 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 | € (622) |
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 | € (24) |
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) | 0.76% |
Average spread (as a percent) | 0.16% |
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) | 2.14% |
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) | 0.14% |
Average spread (as a percent) | 2.75% |
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 | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.30% |
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) | 1.93% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.02% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2023 | 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 | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.26% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.52% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.65% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2025 | 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 | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.37% |
Average spread (as a percent) | 0.11% |
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) | 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 | € 233 |
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 | € 19 |
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 | € (175) |
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 | 2023 | 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 | 2024 | 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 | 2025 | 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 | 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 | € (126) |
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 | € (21,635) |
Non trading purposes | Receiving leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (1,215) |
Non trading purposes | Receiving leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (6,120) |
Non trading purposes | Receiving leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (277) |
Non trading purposes | Receiving leg | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (3,718) |
Non trading purposes | Receiving leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (522) |
Non trading purposes | Receiving leg | Fixed to floating | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (2,974) |
Non trading purposes | Receiving leg | Fixed to floating | 2023 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (277) |
Non trading purposes | Receiving leg | Fixed to floating | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (2,093) |
Non trading purposes | Receiving leg | Fixed to floating | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (139) |
Non trading purposes | Receiving leg | Fixed to floating | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (1,665) |
Non trading purposes | Receiving leg | Fixed to floating | 2025 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (5,065) |
Non trading purposes | Receiving leg | Fixed to floating | Subsequent years | USD | |
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 | (13,045) |
Non trading purposes | Receiving leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (407) |
Non trading purposes | Receiving leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (5,218) |
Non trading purposes | Receiving leg | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (384) |
Non trading purposes | Receiving leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (220) |
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 | 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 | (245) |
Non trading purposes | Receiving leg | Floating to fixed | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (1,997) |
Non trading purposes | Receiving leg | Floating to fixed | 2023 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Floating to fixed | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (470) |
Non trading purposes | Receiving leg | Floating to fixed | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (139) |
Non trading purposes | Receiving leg | Floating to fixed | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (50) |
Non trading purposes | Receiving leg | Floating to fixed | 2025 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (2,122) |
Non trading purposes | Receiving leg | Floating to fixed | Subsequent years | USD | |
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 | (5,210) |
Non trading purposes | Receiving leg | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (383) |
Non trading purposes | Paying leg | Fixed to fix | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 175 |
Average interest rate (as a percent) | 0.91% |
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) | 1.18% |
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 | 2023 | 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 | 2024 | 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 | 2025 | 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 | 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 | € 127 |
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 | € 21,635 |
Non trading purposes | Paying leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 1,215 |
Non trading purposes | Paying leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 6,120 |
Non trading purposes | Paying leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 277 |
Non trading purposes | Paying leg | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 3,718 |
Non trading purposes | Paying leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 522 |
Non trading purposes | Paying leg | Fixed to floating | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 2,974 |
Non trading purposes | Paying leg | Fixed to floating | 2023 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 277 |
Non trading purposes | Paying leg | Fixed to floating | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 2,093 |
Non trading purposes | Paying leg | Fixed to floating | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 139 |
Non trading purposes | Paying leg | Fixed to floating | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 1,665 |
Non trading purposes | Paying leg | Fixed to floating | 2025 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 5,065 |
Non trading purposes | Paying leg | Fixed to floating | Subsequent years | USD | |
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 | 12,423 |
Non trading purposes | Paying leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 383 |
Non trading purposes | Paying leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 5,218 |
Non trading purposes | Paying leg | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 384 |
Non trading purposes | Paying leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 220 |
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 | 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 | 245 |
Non trading purposes | Paying leg | Floating to fixed | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 1,997 |
Non trading purposes | Paying leg | Floating to fixed | 2023 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Floating to fixed | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 470 |
Non trading purposes | Paying leg | Floating to fixed | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 139 |
Non trading purposes | Paying leg | Floating to fixed | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 50 |
Non trading purposes | Paying leg | Floating to fixed | 2025 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 2,122 |
Non trading purposes | Paying leg | Floating to fixed | Subsequent years | USD | |
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 | 5,443 |
Non trading purposes | Paying leg | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 402 |
Derivative instruments | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 2,221 |
Derivative instruments | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (2,939) |
Derivative instruments | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (193) |
Derivative instruments | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 5 |
Derivative instruments | Fair value | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (4) |
Derivative instruments | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | € 9 |
Derivative instruments | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.78% |
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) | 2.96% |
Average spread (as a percent) | 0.03% |
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) | 3.58% |
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) | 4.90% |
Average spread (as a percent) | 1.27% |
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) | 0.75% |
Average spread (as a percent) | 0.00% |
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) | 1.29% |
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) | 3.44% |
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 | 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 | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.20% |
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) | 1.74% |
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) | 3.67% |
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) | 0.75% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.54% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2023 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.85% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2023 | 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 | 2023 | 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 | 2023 | 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 | 2024 | 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 | 2024 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 2.36% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2024 | 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 | 2024 | 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 | 2024 | 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 | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.32% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2025 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.30% |
Average spread (as a percent) | 1.03% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2025 | 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 | 2025 | 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 | 2025 | 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 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.70% |
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) | 3.12% |
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) | 3.42% |
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) | 0.00% |
Average spread (as a percent) | 0.00% |
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 | 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 | € (162) |
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 | € (2,939) |
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 | € (193) |
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 | € (1) |
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 | € (4) |
Derivative instruments | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.17% |
Average spread (as a percent) | 0.01% |
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) | 2.22% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.49% |
Average spread (as a percent) | 4.20% |
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) | 2.75% |
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) | 3.26% |
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) | 0.00% |
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) | 0.12% |
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) | 0.69% |
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) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2023 | 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 | Floating to fixed | 2023 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.54% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2023 | 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 | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 2.30% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2024 | 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 | 2024 | 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 | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.54% |
Average spread (as a percent) | 0.15% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2025 | 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 | 2025 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 3.54% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.09% |
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 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.39% |
Average spread (as a percent) | 8.09% |
Derivative financial assets held for hedging | € 0 |
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 | € 2,383 |
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 | € 6 |
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 | € 9 |
Derivative instruments | Receiving leg | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (3,800) |
Derivative instruments | Receiving leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (12,344) |
Derivative instruments | Receiving leg | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,336) |
Derivative instruments | Receiving leg | Fixed to floating | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (9) |
Derivative instruments | Receiving leg | Fixed to floating | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (139) |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,500) |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,475) |
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 | 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 | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (250) |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (596) |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (891) |
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 | (139) |
Derivative instruments | Receiving leg | Fixed to floating | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,500) |
Derivative instruments | Receiving leg | Fixed to floating | 2023 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (715) |
Derivative instruments | Receiving leg | Fixed to floating | 2023 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2023 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (3) |
Derivative instruments | Receiving leg | Fixed to floating | 2023 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (72) |
Derivative instruments | Receiving leg | Fixed to floating | 2024 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2024 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2024 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (125) |
Derivative instruments | Receiving leg | Fixed to floating | 2025 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (368) |
Derivative instruments | Receiving leg | Fixed to floating | 2025 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2025 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2025 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (425) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (9,118) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (445) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
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 | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (3,957) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (14,567) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,523) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (9) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (143) |
Derivative instruments | Receiving leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (11,750) |
Derivative instruments | Receiving leg | Floating to fixed | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (264) |
Derivative instruments | Receiving leg | Floating to fixed | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (250) |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (522) |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (114) |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
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 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (17) |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2023 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (133) |
Derivative instruments | Receiving leg | Floating to fixed | 2023 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (700) |
Derivative instruments | Receiving leg | Floating to fixed | 2024 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2024 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,054) |
Derivative instruments | Receiving leg | Floating to fixed | 2025 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2025 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (214) |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (9,282) |
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 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (36) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (11,358) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (264) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 3,800 |
Derivative instruments | Paying leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 12,344 |
Derivative instruments | Paying leg | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,336 |
Derivative instruments | Paying leg | Fixed to floating | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 9 |
Derivative instruments | Paying leg | Fixed to floating | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 139 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,500 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,475 |
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 | 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 | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 250 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 596 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 891 |
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 | 139 |
Derivative instruments | Paying leg | Fixed to floating | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,500 |
Derivative instruments | Paying leg | Fixed to floating | 2023 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 715 |
Derivative instruments | Paying leg | Fixed to floating | 2023 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2023 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 3 |
Derivative instruments | Paying leg | Fixed to floating | 2023 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2024 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 72 |
Derivative instruments | Paying leg | Fixed to floating | 2024 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2024 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2024 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 125 |
Derivative instruments | Paying leg | Fixed to floating | 2025 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 368 |
Derivative instruments | Paying leg | Fixed to floating | 2025 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2025 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2025 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 425 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 9,118 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 445 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
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 | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 3,795 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 11,628 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,330 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 8 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 139 |
Derivative instruments | Paying leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 11,750 |
Derivative instruments | Paying leg | Floating to fixed | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 264 |
Derivative instruments | Paying leg | Floating to fixed | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 250 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 522 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 114 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
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 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 17 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2023 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2023 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 133 |
Derivative instruments | Paying leg | Floating to fixed | 2023 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2024 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 700 |
Derivative instruments | Paying leg | Floating to fixed | 2024 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2024 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2025 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,054 |
Derivative instruments | Paying leg | Floating to fixed | 2025 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2025 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 214 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 9,282 |
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 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 36 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 13,741 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 270 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | € 9 |
Appendix IV_ Financial Instru_5
Appendix IV: Financial Instruments - Foreign Exchange and Interest Rate Options (Details) | Dec. 31, 2020EUR (€) |
Bought | 2021 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | € 1,104,000,000 |
Strike price of derivative instrument | 5.11 |
Bought | 2021 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,667,000,000 |
Strike price of derivative instrument | 0.75 |
Bought | 2021 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,384,000,000 |
Strike price of derivative instrument | 0.90 |
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 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2022 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2022 | Call Currencies (EURGBP, GBPEUR) | |
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 | 835,000,000 |
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 | 835,000,000 |
Strike price of derivative instrument | 1.17 |
Bought | 2023 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2023 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2023 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2023 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Bought | 2023 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2023 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2024 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2024 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2024 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2024 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Bought | 2024 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2024 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2025 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2025 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2025 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2025 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Bought | 2025 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2025 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | Subsequent years | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | Subsequent years | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | Subsequent years | Call Currencies (EURGBP, GBPEUR) | |
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 | 2021 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 943,000,000 |
Strike price of derivative instrument | 5.03 |
Sold | 2021 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,515,000,000 |
Strike price of derivative instrument | 0.83 |
Sold | 2021 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,250,000,000 |
Strike price of derivative instrument | 1 |
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 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2022 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2022 | Call Currencies (EURGBP, GBPEUR) | |
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 | 835,000,000 |
Strike price of derivative instrument | 5.53 |
Sold | 2022 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2023 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2023 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2023 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2023 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2023 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2024 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2024 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2024 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2024 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2024 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2025 | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2025 | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2025 | Call Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2025 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2025 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | Subsequent years | Put Currencies (USDBRL, BRLUSD) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | Subsequent years | Put Currencies (EURGBP, GBPEUR) | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | Subsequent years | Call Currencies (EURGBP, GBPEUR) | |
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 | 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 | 4.92 |
Maximum | Bought | 2023 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Maximum | Bought | 2024 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Maximum | Bought | 2025 | 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 | 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 | 4.15 |
Minimum | Bought | 2023 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | 2024 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | 2025 | 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 Instru_6
Appendix IV: Financial Instruments - Derivative Financial Instruments Receivable / Payable (Details) € in Millions | Dec. 31, 2020EUR (€) |
Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | € (602) |
Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 90 |
Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 140 |
Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 46 |
Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (8) |
Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (43) |
Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (827) |
Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (136) |
Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (134) |
Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3) |
Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1 |
Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
Forwards | 2025 | |
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 |
BRL | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 7 |
BRL | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 7 |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Currency swaps | 2025 | |
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 | 149 |
BRL | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 149 |
BRL | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | 2025 | |
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 | (223) |
BRL | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (223) |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Currency swaps | 2025 | |
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 | (2,610) |
BRL | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (2,610) |
BRL | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | 2025 | |
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 | 395 |
CLP | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 40 |
CLP | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 275 |
CLP | Receive | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 80 |
CLP | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1 |
CLP | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1 |
CLP | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | 2025 | |
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 | (1,016) |
CLP | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (114) |
CLP | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (551) |
CLP | Pay | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (351) |
CLP | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (580) |
CLP | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (554) |
CLP | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (26) |
CLP | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Forwards | 2025 | |
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 | 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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | 2025 | |
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 | 412 |
COP | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 412 |
COP | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | 2025 | |
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 | (447) |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (447) |
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 | (1,008) |
COP | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (993) |
COP | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (15) |
COP | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Forwards | 2025 | |
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 | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 65 |
CZK | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 65 |
CZK | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | 2025 | |
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 | Forwards | |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | 2025 | |
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 | 909 |
EUR | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 909 |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Currency swaps | 2025 | |
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 | 0 |
EUR | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 14,223 |
EUR | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 14,223 |
EUR | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Forwards | 2025 | |
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 | (14,914) |
EUR | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3,144) |
EUR | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (875) |
EUR | Pay | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (668) |
EUR | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (80) |
EUR | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (46) |
EUR | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (10,101) |
EUR | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1,229) |
EUR | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1,229) |
EUR | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Forwards | 2025 | |
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 | 1,002 |
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 | 557 |
GBP | Receive | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Currency swaps | 2025 | |
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 | 445 |
GBP | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 528 |
GBP | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 528 |
GBP | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | 2025 | |
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 | 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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | 2025 | |
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 | (8,521) |
GBP | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (8,521) |
GBP | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | 2025 | |
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 | 119 |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Receive | Currency swaps | 2025 | |
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 | 119 |
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 | 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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | 2025 | |
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 |
MXN | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 242 |
MXN | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 25 |
MXN | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 25 |
MXN | Receive | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 25 |
MXN | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 25 |
MXN | Receive | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 25 |
MXN | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 117 |
MXN | Receive | Forwards | |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | 2025 | |
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 | (242) |
MXN | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (25) |
MXN | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (25) |
MXN | Pay | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (25) |
MXN | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (25) |
MXN | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (25) |
MXN | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (117) |
MXN | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (154) |
MXN | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (151) |
MXN | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3) |
MXN | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Forwards | 2025 | |
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 | 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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | 2025 | |
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 | 14 |
PEN | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 14 |
PEN | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | 2025 | |
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 | 1 |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1 |
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 | (223) |
PEN | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (223) |
PEN | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | 2025 | |
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 | 200 |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 200 |
UFC | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Currency swaps | 2025 | |
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 | 0 |
UFC | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (100) |
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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (100) |
UFC | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Currency swaps | 2025 | |
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 | 0 |
USD | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 14,373 |
USD | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 3,253 |
USD | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,003 |
USD | Receive | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 885 |
USD | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 72 |
USD | Receive | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 450 |
USD | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 8,710 |
USD | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 2,605 |
USD | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 2,563 |
USD | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 41 |
USD | Receive | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1 |
USD | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Receive | Forwards | 2025 | |
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 | (1,047) |
USD | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (638) |
USD | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (408) |
USD | Pay | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1) |
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 | (3,799) |
USD | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3,799) |
USD | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | 2025 | |
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 | 355 |
UDI | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 37 |
UDI | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 37 |
UDI | Receive | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 37 |
UDI | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 37 |
UDI | Receive | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 37 |
UDI | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 170 |
UDI | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (355) |
UDI | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (37) |
UDI | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (37) |
UDI | Pay | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (37) |
UDI | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (37) |
UDI | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (37) |
UDI | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (170) |
CHF | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 139 |
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 | 139 |
CHF | Receive | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Receive | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Receive | Currency swaps | 2025 | |
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 | 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 | 0 |
CHF | Pay | Currency swaps | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Pay | Currency swaps | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Pay | Currency swaps | 2025 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
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 | 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 | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | 2025 | |
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 | (9) |
UYU | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (9) |
UYU | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | 2023 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | 2024 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | 2025 | |
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-Bearing _3
Appendix V: Interest-Bearing Debt (Details) - EUR (€) | Dec. 31, 2020 | Sep. 30, 2020 | Jul. 17, 2020 | Jul. 16, 2020 | Feb. 18, 2020 | Feb. 17, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | € 109,267,000,000 | € 128,654,000,000 | |||||
Borrowings | 38,880,000,000 | ||||||
Telefonica, S.A. | Structured financing due July 30, 2021 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 18,000,000 | ||||||
Borrowings | 15,000,000 | 53,000,000 | |||||
Telefonica, S.A. | Structured financing due January 31, 2023 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 199,000,000 | ||||||
Borrowings | 162,000,000 | 282,000,000 | |||||
Telefonica, S.A. | Structured financing due October 31, 2023 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 187,000,000 | ||||||
Borrowings | 152,000,000 | 243,000,000 | |||||
Telefonica, S.A. | Structured financing due March 11, 2026 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 414,000,000 | ||||||
Borrowings | 338,000,000 | 448,000,000 | |||||
Telefonica, S.A. | Structured financing due March 11, 2026 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 281,000,000 | ||||||
Borrowings | 281,000,000 | 341,000,000 | |||||
Telefonica, S.A. | Credit Facility due March 01, 2023 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 100,000,000 | ||||||
Borrowings | 111,000,000 | 117,000,000 | |||||
Telefonica, S.A. | Bilateral Loan due May 14, 2024 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 135,000,000 | € 135,000,000 | € 300,000,000 | ||||
Borrowings | 0 | 0 | |||||
Telefonica, S.A. | Bilateral Loan due August 14, 2026 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | 200,000,000 | 200,000,000 | |||||
Telefonica, S.A. | Bilateral Loan due March 12, 2030 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | 150,000,000 | 0 | |||||
Telefonica, S.A. | Bilateral Loan due May 06, 2027 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | 200,000,000 | 0 | |||||
Telefonica, S.A. | Syndicated Facility due March 15, 2025 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 5,500,000,000 | ||||||
Borrowings | 0 | 0 | |||||
Telefonica, S.A. | Bilateral Loan due June 18, 2024 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 200,000,000 | ||||||
Borrowings | 0 | 0 | |||||
Telefónica Germany GmbH & Co. OHG | BEI Financing due June 13, 2025 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | 333,000,000 | 408,000,000 | |||||
Telefónica Germany GmbH & Co. OHG | Syndicated Facility due December 17, 2024 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 750,000,000 | ||||||
Borrowings | 0 | 0 | |||||
Telefónica Germany GmbH & Co. OHG | EIB Financing due June 18, 2029 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 300,000,000 | ||||||
Borrowings | 0 | 0 | |||||
Telefónica Germany GmbH & Co. OHG | EIB Financing (Tranche 2) due July 14, 2029 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 150,000,000 | ||||||
Borrowings | 0 | 0 | |||||
Colombia Telecomunicaciones, S.A, ESP | Bilateral Loan due March 24, 2025 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | 175,000,000 | 0 | |||||
Colombia Telecomunicaciones, S.A, ESP | Syndicated Loan due March 18, 2025 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | 204,000,000 | € 250,000,000 | € 320,000,000 | 0 | |||
Early repayment of debt | € 70,000,000 | ||||||
Telxius Telecom, S.A. | Syndicated Facility due December 01, 2024 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 103,000,000 | ||||||
Borrowings | 197,000,000 | 300,000,000 | |||||
Telxius Telecom, S.A. | Bilateral Loan due November 29, 2021 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | 150,000,000 | 150,000,000 | |||||
Telefónica Móviles Chile, S.A. | Bilateral Loan due September 29, 2023 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | € 140,000,000 | |||||
Borrowings | 114,000,000 | € 140,000,000 | 0 | ||||
T. UK Limited | Syndicated Loan due September 29, 2020 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Contractual limit amount | 0 | ||||||
Borrowings | € 0 | € 0 |
Appendix VI_ Key Regulatory I_3
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group - Narrative (Details) | Jun. 15, 2017EUR (€) | Jan. 10, 2017 | Dec. 14, 2016MHz_band | Aug. 30, 2016 | Apr. 27, 2016 | Nov. 30, 2016COP ($) | Feb. 29, 2016city | Jul. 31, 2013 | Aug. 31, 2009 | Dec. 31, 2024EUR (€) | Dec. 31, 2023EUR (€) | Dec. 31, 2022EUR (€) | Dec. 31, 2021EUR (€) | Dec. 31, 2020GHz_spectrum_bandmegabyte_per_second |
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 | |||||||||||||
Percentage of fines issued by the general data protection regulation | 4.00% | |||||||||||||
Percentage of fines issued | 4.00% | |||||||||||||
Frequency of band (MHz) | MHz_band | 700 | |||||||||||||
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% | |||||||||||||
Speed of network infrastructure access for data transmission in copper pairs or coaxial cables (Mbit per second) | megabyte_per_second | 12 | |||||||||||||
Speed of wholesale fixed network infrastructure to transport local and long distance transmission (Mbit per second) | megabyte_per_second | 34 | |||||||||||||
Percentage of foreign direct investment allowed | 100.00% | |||||||||||||
Percentage of increase in administrative fines | 30.00% | |||||||||||||
Period of applicable tariffs for services provided | 5 years | |||||||||||||
Symmetric termination rate (COP per minute) | $ 11.4 | |||||||||||||
Symmetric termination rate (COP) | 4,300,000 | |||||||||||||
Established operators and a symmetric termination rate (COP per minute) | 24.58 | |||||||||||||
Established operators and a symmetric termination rate (COP) | $ 9,800,000 | |||||||||||||
Period of established operators and a symmetric termination rate | 5 years | |||||||||||||
Frequency ranges owned by Telefonica (GHz) | GHz_spectrum_band | 6 | |||||||||||||
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 | ||||||||||
Telefónica Brazil | ||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||||||||
Proportion of ownership interest (as a percent) | 73.69% | |||||||||||||
Colombia Telecomunicaciones, S.A., ESP | ||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||||||||
Proportion of ownership interest (as a percent) | 67.50% | |||||||||||||
Telefónica Móviles España | ||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||||||||
Proportion of ownership interest (as a percent) | 100.00% |
Appendix VI_ Key Regulatory I_4
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, 2020 | Total | mhz_frequency | MHz_band | ghz_frequency | GHz_spectrum_band | mhz_per_2100mhz_frequency | Total |
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Initial term | 20 years | ||||||
Frequency ranges owned by Telefonica (GHz) | GHz_spectrum_band | 6 | ||||||
Expiring in 2031 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 800 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 900 | ||||||
Bandwidth (MHz) | 29,600,000 | ||||||
Expiring in 2030 | Peru | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,800 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2030, Option 3 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Expiring in 2030, Option 4 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 29,600,000 | ||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 29,600,000 | ||||||
Expiring in 2030, Option 5 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2030, Option 6 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2030, Option 7 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 10,000,000 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 10,000,000 | ||||||
Expiring in 2030, Option 8 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2038 | Spain | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | ghz_frequency | 3.7 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | ghz_frequency | 3.7 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Expiring in 2038 | Chile | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 12,000,000 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 12,000,000 | ||||||
Expiring in 2038 | El Salvador | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Indefinite, 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 | ||||||
Frequency | mhz_frequency | 800 | ||||||
Bandwidth (MHz) | GHz_spectrum_band | 20,000,000 | ||||||
Indefinite, Option 1 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Indefinite, Option 1 | Chile | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 900 | ||||||
Bandwidth (MHz) | 34,800,000 | ||||||
Indefinite, Option 2 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,800 | ||||||
Bandwidth (MHz) | 11,600,000 | ||||||
Indefinite, Option 3 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Indefinite, Option 4 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Indefinite, Option 5 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Indefinite, Option 6 | United Kingdom | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,300 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | mhz_frequency | 2,300 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Indefinite, Option 6 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Indefinite, Option 7 | United Kingdom | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Indefinite, Option 8 | United Kingdom | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | ghz_frequency | 3.5 | ||||||
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 | ||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | GHz_spectrum_band | 20,000,000 | ||||||
Expiring in 2033 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
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 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2025 | Germany | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 800 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 800 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 900 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2033, Option 2 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,800 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
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 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Expiring in 2020 | Germany | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Expiring in 2020 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 1,920,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 1,920,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 2,000 | ||||||
Bandwidth (MHz) | 14,200,000 | ||||||
Expiring in 2020, Option 2 | Germany | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 39,600,000 | ||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 39,600,000 | ||||||
Expiring in 2020, Option 2 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
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 | ||||||
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 | ||||||
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 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2040 | Germany | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 70,000,000 | ||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 70,000,000 | ||||||
Expiring in 2027 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 450 | ||||||
Bandwidth (MHz) | 14,000,000 | ||||||
Frequency | mhz_frequency | 450 | ||||||
Bandwidth (MHz) | 14,000,000 | ||||||
Expiring in 2027 | Peru | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | ghz_frequency | 3.5 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Expiring in 2029 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2029 | Venezuela | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2028 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Expiring in 2028 | Peru | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 450 | ||||||
Bandwidth (MHz) | 10,000,000 | ||||||
Frequency | mhz_frequency | 450 | ||||||
Bandwidth (MHz) | 10,000,000 | ||||||
Expiring in 2023-2035 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Frequency | mhz_frequency | 900 | ||||||
Bandwidth (MHz) | 5,000,000 | ||||||
Expiring in 2023-2035, Option 2 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,800 | ||||||
Frequency | mhz_frequency | 1,800 | ||||||
Expiring in 2023 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,100 | ||||||
Frequency | mhz_frequency | 2,100 | ||||||
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 | ||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Expiring in 2023 | Ecuador | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Expiring in 2027-2031 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,500 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | mhz_frequency | 2,500 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2020-2023, Option 2 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Bandwidth (MHz) | 20 | ||||||
Bandwidth (MHz) | 20 | ||||||
Expiring in 2035 | Argentina | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_per_2100mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Population in service area (as a percent) | 65.00% | ||||||
Frequency | mhz_per_2100mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Expiring in 2045 | Chile | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2045 | Uruguay | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
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 | ||||||
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 | ||||||
Frequency | mhz_frequency | 2,600 | ||||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2024 | Colombia | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Expiring in 2024, Option 2 | Colombia | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 15,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 15,000,000 | ||||||
Expiring in 2021 | Colombia | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 15,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 15,000,000 | ||||||
Expiring in 2021 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Expiring in 2023, Option 2 | Ecuador | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 60,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 60,000,000 | ||||||
Expiring in 2020/2022 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2022 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 1,900 | 40 | |||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | 1,900 | 40 | |||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2022 | Venezuela | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Expiring in 2020, Option 3 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 1,900 | 40 | |||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | 1,900 | 40 | |||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2020, Option 4 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 1,900 | 40 | |||||
Bandwidth (MHz) | 40,000,000 | ||||||
Frequency | 1,900 | 40 | |||||
Bandwidth (MHz) | 40,000,000 | ||||||
Expiring in 2021, Option 2 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 1,900 | 50 | |||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | 1,900 | 50 | |||||
Bandwidth (MHz) | 50,000,000 | ||||||
Expiring in 2020, Option 5 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 1,900 | 50 | |||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | 1,900 | 50 | |||||
Bandwidth (MHz) | 50,000,000 | ||||||
Expiring in 2022, Option 1 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 1,900 | 50 | |||||
Bandwidth (MHz) | 50,000,000 | ||||||
Frequency | 1,900 | 50 | |||||
Bandwidth (MHz) | 50,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 50,000,000 | ||||||
Expiring in 2021, Option 3 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 1,900 | 60 | |||||
Bandwidth (MHz) | 60,000,000 | ||||||
Frequency | 1,900 | 60 | |||||
Bandwidth (MHz) | 60,000,000 | ||||||
Expiring in 2036 | Peru | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
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 | ||||||
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 | ||||||
Frequency | mhz_frequency | 900 | ||||||
Bandwidth (MHz) | 16,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Expiring in 2018 | Peru | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 25,000,000 | ||||||
Expiring in 2037 | Uruguay | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Frequency | mhz_frequency | 700 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
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 | ||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | ||||||
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 | ||||||
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 | ||||||
Frequency | mhz_frequency | 850 | ||||||
Bandwidth (MHz) | 10,600,000 | ||||||
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 | ||||||
Frequency | mhz_frequency | 1,800 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Expiring in 2032 | Costa Rica | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,800 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 1,800 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2026, Option 2 | Costa Rica | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2032, Option 1 | Costa Rica | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Frequency | mhz_frequency | 2,100 | ||||||
Bandwidth (MHz) | 20,000,000 | ||||||
Expiring in 2041 | El Salvador | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
Frequency | mhz_frequency | 1,900 | ||||||
Bandwidth (MHz) | 30,000,000 | ||||||
(Phantom) Expiring in November 2032 | Chile | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 20 | ||||||
Frequency | 20 | ||||||
(Phantom) Expiring in April 2033 | Chile | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 10 | ||||||
Frequency | 10 | ||||||
(Phantom) Expiring in 2020, Regions 1, 3, & 4 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 20 | ||||||
Frequency | 20 | ||||||
(Phantom) Expiring in 2022, Region 2 | MEXICO | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 20 | ||||||
Frequency | 20 | ||||||
(Phantom) Expiring in 2022 | Uruguay | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 10 | ||||||
Frequency | 10 | ||||||
(Phantom) Expiring in 2024 | Uruguay | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Frequency | 10 | ||||||
Frequency | 10 | ||||||
Maximum | Expiring in 2027-2031 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Most common bandwidth (MHz) | 40 | ||||||
Minimum | Expiring in 2027-2031 | Brazil | |||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||
Additional bandwidth (MHz) | 20 |
Uncategorized Items - tef-20201
Label | Element | Value |
Cash | ifrs-full_Cash | € 3,990,000,000 |
Cash | ifrs-full_Cash | 4,600,000,000 |
Cash | ifrs-full_Cash | 4,886,000,000 |
Cash | ifrs-full_Cash | 5,209,000,000 |
Cash equivalents | ifrs-full_CashEquivalents | 1,004,000,000 |
Cash equivalents | ifrs-full_CashEquivalents | 1,202,000,000 |
Cash equivalents | ifrs-full_CashEquivalents | 833,000,000 |
Cash equivalents | ifrs-full_CashEquivalents | 806,000,000 |
Accounting Change Impact of Hyperinflation | tef_AccountingChangeImpactOfHyperinflation | 0 |
Accounting Change Impact and Initial Impact of Hyperinflation | tef_AccountingChangeImpactandInitialImpactofHyperinflation | 2,033,000,000 |
Reserve of exchange differences on translation [member] | ||
Equity | ifrs-full_Equity | (20,157,000,000) |
Equity | ifrs-full_Equity | (17,314,000,000) |
Accounting Change Impact of Hyperinflation | tef_AccountingChangeImpactOfHyperinflation | (3,493,000,000) |
Accounting Change Impact and Initial Impact of Hyperinflation | tef_AccountingChangeImpactandInitialImpactofHyperinflation | 2,033,000,000 |
Treasury shares [member] | ||
Equity | ifrs-full_Equity | (686,000,000) |
Equity | ifrs-full_Equity | (688,000,000) |
Statutory reserve [member] | ||
Equity | ifrs-full_Equity | 987,000,000 |
Equity | ifrs-full_Equity | 1,038,000,000 |
Other equity interest [member] | ||
Equity | ifrs-full_Equity | 7,518,000,000 |
Equity | ifrs-full_Equity | 7,496,000,000 |
Reserve of gains and losses from investments in equity instruments [member] | ||
Equity | ifrs-full_Equity | 37,000,000 |
Equity | ifrs-full_Equity | 44,000,000 |
Reserve of gains and losses on remeasuring available-for-sale financial assets [member] | ||
Gross Adjustment on Initial Application of New Reporting | tef_GrossAdjustmentonInitialApplicationofNewReporting | (305,000,000) |
Equity | ifrs-full_Equity | (369,000,000) |
Equity | ifrs-full_Equity | (231,000,000) |
Non-controlling interests [member] | ||
Gross Adjustment on Initial Application of New Reporting | tef_GrossAdjustmentonInitialApplicationofNewReporting | 5,000,000 |
Gross Adjustment on Initial Application of New Reporting | tef_GrossAdjustmentonInitialApplicationofNewReporting | 66,000,000 |
Equity | ifrs-full_Equity | 9,764,000,000 |
Equity | ifrs-full_Equity | 9,038,000,000 |
Equity attributable to owners of parent [member] | ||
Gross Adjustment on Initial Application of New Reporting | tef_GrossAdjustmentonInitialApplicationofNewReporting | 512,000,000 |
Gross Adjustment on Initial Application of New Reporting | tef_GrossAdjustmentonInitialApplicationofNewReporting | 11,000,000 |
Equity | ifrs-full_Equity | 17,958,000,000 |
Equity | ifrs-full_Equity | 19,465,000,000 |
Accounting Change Impact and Initial Impact of Hyperinflation | tef_AccountingChangeImpactandInitialImpactofHyperinflation | 2,033,000,000 |
Reserve of cash flow hedges [member] | ||
Equity | ifrs-full_Equity | 384,000,000 |
Equity | ifrs-full_Equity | 560,000,000 |
Share premium [member] | ||
Equity | ifrs-full_Equity | 4,538,000,000 |
Equity | ifrs-full_Equity | 4,538,000,000 |
Retained earnings [member] | ||
Gross Adjustment on Initial Application of New Reporting | tef_GrossAdjustmentonInitialApplicationofNewReporting | 817,000,000 |
Gross Adjustment on Initial Application of New Reporting | tef_GrossAdjustmentonInitialApplicationofNewReporting | 11,000,000 |
Equity | ifrs-full_Equity | 20,302,000,000 |
Equity | ifrs-full_Equity | 19,042,000,000 |
Accounting Change Impact of Hyperinflation | tef_AccountingChangeImpactOfHyperinflation | € 3,493,000,000 |