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Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
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 2022 results for approval at the Shareholders’ Meeting:
| Millions of euros
Legal reserve | — |
Unrestricted reserves | (880) |
Total | (880) |
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 Fix | Variable | Exercisable by issuer | 12/31/2021 | Tender Offer | Amount repurchased | Redemption | 12/31/2022
11/23/2022 (1) | 7.125 | % | from 11/23/28 rate SWAP + spread incremental | 2028 | — |  | — |  | — |  | — |  | 750 |
11/24/2021 (2) | 2.875 | % | from 05/24/28 rate SWAP + spread incremental | 2028 | 750 |  | — |  | — |  | — |  | 750 |
2/12/2021 (2) | 2.376 | % | from 05/12/29 rate SWAP + spread incremental | 2029 | 1,000 |  | — |  | — |  | — |  | 1,000 |
2/5/2020 (1) | 2.502 | % | from 05/05/27 rate SWAP + spread incremental | 2027 | 500 |  | — |  | — |  | — |  | 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 | 824 |  | 824 |  | (74) |  | — |  | 750 |
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 | 676 |  | 676 |  | (547) |  | (129) |  | — |
03/31/2014 | 5.875 | % | from 03/31/24 rate SWAP + spread incremental | 2024 | 1,000 |  | — |  | — |  | — |  | 1,000 |
|  |  |  | 7,550 |  |  |  |  | 7,550 |
(1) Green undated deeply subrodinated securities (see Note 29.d) (2) Sustanible undated deeply subordinated securities (see Nota 29.d)
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 | 2022 | 2021 | 2020
Brazilian real | (14,031) |  | (15,292) |  | (15,365) |
Pound sterling | (322) |  | 309 |  | (3,344) |
Venezuelan bolivar | (3,734) |  | (3,755) |  | (3,754) |
Argentine peso | (1,364) |  | (1,702) |  | (2,178) |
Other currencies | (1,272) |  | (1,452) |  | (1,339) |
Total Group | (20,723) |  | (21,892) |  | (25,980) |
Schedule of Treasury Share Instruments | Telefónica, S.A. held the following treasury shares at December 31, 2022, 2021 and 2020:
|  | Euros per share |  |
| Number of shares | Acquisition price | Trading price | Market value (*) | %
Treasury shares at 12/31/22 | 85,217,621 |  | 4.00 |  | 3.39 |  | 288 |  | 1.476 | %
Treasury shares at 12/31/21 | 139,329,370 |  | 3.92 |  | 3.85 |  | 537 |  | 2.411 | %
Treasury shares at 12/31/20 | 98,231,380 |  | 4.84 |  | 3.25 |  | 319 |  | 1.777 | %
(*) Millions of euros. The following transactions involving treasury shares were carried out in 2022, 2021 and 2020:
| Number of shares
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 |
Acquisitions | 122,032,764 |
Scrip dividend | 6,291,518 |
Employee share option plan | (4,329,826) |
Capital reduction | (82,896,466) |
Treasury shares at 12/31/21 | 139,329,370 |
Acquisitions | 90,403,530 |
Scrip dividend | 563,415 |
Employee share option plan | (5,391,956) |
Capital reduction | (139,275,057) |
Sales | (411,681) |
Treasury shares at 12/31/22 | 85,217,621 |
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 2022, 2021 and 2020 consolidated statements of financial position are as follows:
Millions of euros | Balance at 12/31/21 | 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 12/31/22
Telefônica Brasil, S.A. | 3,106 |  | — |  | (86) |  | (241) |  | 198 |  | 425 |  | (3) |  | 3,399 |
Telefónica Deutschland Holding, A.G. | 2,353 |  | — |  | (48) |  | (161) |  | 68 |  | — |  | 25 |  | 2,237 |
Colombia Telecomunicaciones, S.A., ESP | 409 |  | — |  | — |  | (7) |  | (4) |  | (47) |  | (7) |  | 344 |
Telxius Telecom, S.A. | 546 |  | — |  | — |  | — |  | 50 |  | 13 |  | (10) |  | 599 |
Other | 63 |  | 23 |  | (44) |  | (2) |  | (4) |  | 2 |  | 3 |  | 41 |
Total | 6,477 |  | 23 |  | (178) |  | (411) |  | 308 |  | 393 |  | 8 |  | 6,620 |
Millions of euros | Balance at 12/31/20 | 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 12/31/21
Telefônica Brasil, S.A. | 3,106 |  | — |  | (63) |  | (236) |  | 271 |  | 17 |  | 11 |  | 3,106 |
Telefónica Deutschland Holding, A.G. | 2,346 |  | — |  | (56) |  | (165) |  | 218 |  | — |  | 10 |  | 2,353 |
Colombia Telecomunicaciones, S.A., ESP | 408 |  | — |  | — |  | — |  | 7 |  | (28) |  | 22 |  | 409 |
Telxius Telecom, S.A. | 1,089 |  | — |  | — |  | (2,645) |  | 2,098 |  | 16 |  | (12) |  | 546 |
Other | 76 |  | — |  | — |  | (5) |  | (14) |  | 5 |  | 1 |  | 63 |
Total | 7,025 |  | — |  | (119) |  | (3,051) |  | 2,580 |  | 10 |  | 32 |  | 6,477 |
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 |
Telxius Telecom, S.A. | 681 |  | 323 |  | — |  | (44) |  | 187 |  | (69) |  | 11 |  | 1,089 |
Other | 139 |  | — |  | (3) |  | (44) |  | (10) |  | (8) |  | 2 |  | 76 |
Total | 8,332 |  | 321 |  | (3) |  | (516) |  | 375 |  | (1,435) |  | (49) |  | 7,025 |
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 and Telefónica Germany. The detail of these figures for Colombia Telecomunicaciones and Telxius Telecom is as follows:
Millions of euros |  |  |
Colombia Telecomunicaciones | 2022 | 2021 | 2020
Revenues | 1,517 |  | 1,312 |  | 1,249 |
OIBDA | 569 |  | 413 |  | 438 |
Depreciation and amortization | (308) |  | (314) |  | (325) |
Operating income | 261 |  | 99 |  | 113 |
Capital Expenditure | 261 |  | 151 |  | 156 |
Fixed Assets | 1,116 |  | 1,264 |  | 1,530 |
Total allocated assets | 2,696 |  | 2,725 |  | 2,864 |
Total allocated liabilities | 2,001 |  | 1,878 |  | 2,049 |
Millions of euros |  |  |
Telxius Telecom | 2022 | 2021 | 2020
Revenues | 421 |  | 587 |  | 826 |
OIBDA | 218 |  | 6,332 |  | 520 |
Depreciation and amortization | (66) |  | (72) |  | (269) |
Operating income | 152 |  | 6,260 |  | 251 |
Capital Expenditure | 65 |  | 91 |  | 348 |
Fixed Assets | 507 |  | 475 |  | 452 |
Total allocated assets | 2,129 |  | 2,083 |  | 2,840 |
Total allocated liabilities | 1,163 |  | 1,225 |  | 2,785 |
Schedule of Subsidiary Cash Flows | The statements of cash flows of these companies are as follows:
Millions of euros |  |  |
Telefónica Brazil | 2022 | 2021 | 2020
Net cash flow provided by operating activities | 3,678 |  | 2,949 |  | 3,517 |
Net cash flow used in investing activities | (2,741) |  | (1,295) |  | (1,238) |
Net cash flow used in financing activities | (1,674) |  | (1,467) |  | (1,817) |
| (737) |  | 187 |  | 462 |
Millions of euros |  |  |
Telefónica Germany | 2022 | 2021 | 2020
Net cash flow provided by operating activities | 2,732 |  | 2,407 |  | 2,386 |
Net cash flow used in investing activities | (1,608) |  | (875) |  | (459) |
Net cash flow used in financing activities | (1,339) |  | (1,820) |  | (1,342) |
| (215) |  | (288) |  | 585 |
Millions of euros |  |  |
Colombia Telecomunicaciones | 2022 | 2021 | 2020
Net cash flow provided by operating activities | 180 |  | 344 |  | 276 |
Net cash flow provided by (used in) investing activities | 30 |  | (153) |  | (189) |
Net cash flow provided by (used in) financing activities | (225) |  | (218) |  | (42) |
| (15) |  | (27) |  | 45 |
Millions of euros |  |  |
Telxius Telecom | 2022 | 2021 | 2020
Net cash flow provided by operating activities | 152 |  | (627) |  | 528 |
Net cash flow provided by (used in) investing activities | (63) |  | 6,874 |  | (1,141) |
Net cash flow provided by (used in) financing activities | (89) |  | (6,164) |  | 575 |
| — |  | 83 |  | (38) |

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