XML 80 R64.htm IDEA: XBRL DOCUMENT
v3.22.4

Derivative Financial Instruments and Risk Management Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
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 2022 was considered constant during 2023; 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 2023 and identical to that existing at the end of 2022. 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% | (11) |  | (314) |
USD vs EUR | 10% | — |  | (48) |
Other currencies vs EUR | 10% | 1 |  | (56) |
Latin American currencies vs USD | 10% | (12) |  | (210) |
All currencies vs EUR | (10%) | 11 |  | 314 |
USD vs EUR | (10%) | — |  | 48 |
Other currencies vs EUR | (10%) | (1) |  | 56 |
Latin American currencies vs USD | (10%) | 12 |  | 210 |
Millions of euros
Change in basis points (bp) | Impact on consolidated income statement | Impact on consolidated equity
+100bp | (34) |  | 61 |
-100bp | 34 |  | (61) |
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, 2022 and December 31, 2021 is as follows:
| Gross notional in original currency (in millions)
Interest rate index/Tenor | 2022 | 2021
USD Libor 3M | 32,947 |  | 35,140 |
USD Libor 1M | — |  | — |
USD Libor 6M | 140 |  | 140 |
Schedule of Financial Results | The breakdown of the financial results recognized in 2022, 2021 and 2020 is as follows:
Millions of euros | 2022 | 2021 | 2020
Interest income | 384 |  | 191 |  | 185 |
Dividends received | 25 |  | 14 |  | 12 |
Other financial income | 894 |  | 174 |  | 159 |
Subtotal | 1,303 |  | 379 |  | 356 |
Changes in fair value of asset derivatives at fair value through profit or loss | 377 |  | 132 |  | 255 |
Changes in fair value of liability derivatives at fair value through profit or loss | (861) |  | (24) |  | (507) |
Changes in the fair value of debt instruments and other assets at fair value to profit or loss | 8 |  | — |  | (3) |
Transfer from equity of results of cash flow hedges - future cash flows that are no longer expected to happen | (2) |  | — |  | — |
(Loss)/Gain on fair value hedges | (1,818) |  | (517) |  | 563 |
Gain/(loss) on adjustment to items hedged by fair value hedges | 1,763 |  | 527 |  | (525) |
Subtotal | (533) |  | 118 |  | (217) |
Interest expenses | (1,548) |  | (1,290) |  | (1,320) |
Financial expenses on lease liabilities (see Note 20) | (393) |  | (274) |  | (193) |
Ineffective portion of cash flow hedges | (15) |  | (41) |  | 45 |
Accretion of provisions and other liabilities | 276 |  | (169) |  | (280) |
Other financial expenses | (317) |  | (137) |  | (131) |
Subtotal | (1,997) |  | (1,911) |  | (1,879) |
Net finance costs excluding foreign exchange differences and hyperinflation adjustments | (1,227) |  | (1,414) |  | (1,740) |
Schedule of Derivatives, Fair Value, and Expected Maturity | The movement of the net position of derivatives during the years ended December 31, 2022 and December 31, 2021 is as follows:
Millions of euros | Movement in 2022 | Movement in 2021
Opening balance of assets/(liabilities) | 1,573 |  | 13 |
Financing payments | 715 |  | 34 |
Financing proceeds | (89) |  | 89 |
Interest (proceeds)/payments | 283 |  | (91) |
Other (proceeds)/payments | (17) |  | (31) |
Fair value adjustments through other comprehensive income | 1,031 |  | 1,733 |
Movements with counterparty in the income statement | (2,649) |  | (538) |
Translation differences | 169 |  | 393 |
Other movements | (4) |  | (29) |
Closing balance of assets/(liabilities) | 1,012 |  | 1,573 |
The breakdown of Telefónica’s hedges and other derivative instruments at December 31, 2022 and December 31, 2021, their fair value at year-end and the expected maturity schedule is as set forth in the table below:
December 31, 2022
| Notional amount - Maturities (*) |  | Book value of the derivative and no-derivative instruments (**)
Millions of euros | 2023 | 2024 | 2025 | Later | Total |  | Non-current asset | Current asset | Non-current liabilities | Current liabilities | Total
Derivative instruments of accounting hedges | (2,034) |  | 116 |  | (77) |  | 7,237 |  | 5,242 |  |  | (2,404) |  | (466) |  | 1,317 |  | 78 |  | (1,475) |
Interest rate risk | (795) |  | 2 |  | (123) |  | (5,590) |  | (6,506) |  |  | (211) |  | (187) |  | 446 |  | 9 |  | 57 |
Cash flow hedges | 3 |  | — |  | — |  | 1,114 |  | 1,117 |  |  | (26) |  | (4) |  | 8 |  | 9 |  | (13) |
Fair value hedges | (798) |  | 2 |  | (123) |  | (6,704) |  | (7,623) |  |  | (185) |  | (183) |  | 438 |  | — |  | 70 |
Exchange rate risk | (1,340) |  | 34 |  | — |  | 9,284 |  | 7,978 |  |  | (1,742) |  | (213) |  | 711 |  | 68 |  | (1,176) |
Cash flow hedges | 744 |  | 34 |  | — |  | 8,824 |  | 9,602 |  |  | (1,742) |  | (57) |  | 704 |  | 30 |  | (1,065) |
Fair value hedges | 837 |  | — |  | — |  | 460 |  | 1,297 |  |  | — |  | (87) |  | 7 |  | 28 |  | (52) |
Net investments hedges | (2,921) |  | — |  | — |  | — |  | (2,921) |  |  | — |  | (69) |  | — |  | 10 |  | (59) |
Interest rate and exchange rate risk | 101 |  | 80 |  | 46 |  | 3,543 |  | 3,770 |  |  | (451) |  | (66) |  | 160 |  | 1 |  | (356) |
Cash flow hedges | 101 |  | 80 |  | 46 |  | 3,234 |  | 3,461 |  |  | (445) |  | (66) |  | 74 |  | 1 |  | (436) |
Fair value hedges | — |  | — |  | — |  | 309 |  | 309 |  |  | (6) |  | — |  | 86 |  | — |  | 80 |
Undesignated derivatives | (1,964) |  | (479) |  | (525) |  | (2,363) |  | (5,331) |  |  | (264) |  | (246) |  | 706 |  | 267 |  | 463 |
Other derivatives of interest rate | (1,539) |  | (688) |  | (525) |  | (2,363) |  | (5,115) |  |  | (264) |  | (59) |  | 631 |  | 16 |  | 324 |
Other derivatives of exchange rate | (1,132) |  | — |  | — |  | — |  | (1,132) |  |  | — |  | (179) |  | — |  | 145 |  | (34) |
Other derivatives | 707 |  | 209 |  | — |  | — |  | 916 |  |  | — |  | (8) |  | 75 |  | 106 |  | 173 |
Total derivative instruments | (3,998) |  | (363) |  | (602) |  | 4,874 |  | (89) |  |  | (2,668) |  | (712) |  | 2,023 |  | 345 |  | (1,012) |
No derivatives instruments of accounting hedges (***) | — |  | 141 |  | — |  | — |  | 141 |  |  | — |  | — |  | 141 |  | — |  | 141 |
Exchange rate risk | — |  | 141 |  | — |  | — |  | 141 |  |  | — |  | — |  | 141 |  | — |  | 141 |
Fair value hedges | — |  | — |  | — |  | — |  | — |  |  | — |  | — |  | — |  | — |  | — |
Net investments hedges | — |  | 141 |  | — |  | — |  | 141 |  |  | — |  | — |  | 141 |  | — |  | 141 |
(*) 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,141 million euros correspond to "Loans and other debts"" (see Note 18).
December 31, 2021
| Notional amount - Maturities (*) |  | Book value of the derivative and no-derivative instruments (**)
Millions of euros | 2022 | 2023 | 2024 | Later | Total |  | Non-current asset | Current asset | Non-current liabilities | Current liabilities | Total
Derivative instruments of accounting hedges | (5,020) |  | (904) |  | 98 |  | 8,805 |  | 2,979 |  |  | (2,301) |  | (908) |  | 1,438 |  | 232 |  | (1,539) |
Interest rate risk | 63 |  | (801) |  | (1) |  | (2,860) |  | (3,599) |  |  | (914) |  | (480) |  | 22 |  | 4 |  | (1,368) |
Cash flow hedges | 64 |  | — |  | — |  | 1,060 |  | 1,124 |  |  | (24) |  | (11) |  | 11 |  | 4 |  | (20) |
Fair value hedges | (1) |  | (801) |  | (1) |  | (3,920) |  | (4,723) |  |  | (890) |  | (469) |  | 11 |  | — |  | (1,348) |
Exchange rate risk | (5,021) |  | 26 |  | 19 |  | 8,824 |  | 3,848 |  |  | (1,245) |  | (131) |  | 1,124 |  | 228 |  | (24) |
Cash flow hedges | 318 |  | 32 |  | 19 |  | 8,824 |  | 9,193 |  |  | (1,245) |  | (102) |  | 1,124 |  | 95 |  | (128) |
Fair value hedges | 209 |  | (6) |  | — |  | — |  | 203 |  |  | — |  | (28) |  | — |  | 18 |  | (10) |
Net investments hedges | (5,548) |  | — |  | — |  | — |  | (5,548) |  |  | — |  | (1) |  | — |  | 115 |  | 114 |
Interest rate and exchange rate risk | (62) |  | (129) |  | 80 |  | 2,841 |  | 2,730 |  |  | (142) |  | (297) |  | 292 |  | — |  | (147) |
Cash flow hedges | 189 |  | 118 |  | 80 |  | 2,841 |  | 3,228 |  |  | (97) |  | (104) |  | 292 |  | — |  | 91 |
Fair value hedges | (251) |  | (247) |  | — |  | — |  | (498) |  |  | (45) |  | (193) |  | — |  | — |  | (238) |
Undesignated derivatives | (1,254) |  | (1,187) |  | (303) |  | (1,238) |  | (3,982) |  |  | (471) |  | (87) |  | 397 |  | 127 |  | (34) |
Other derivatives of interest rate | (963) |  | (1,283) |  | (303) |  | (1,238) |  | (3,787) |  |  | (244) |  | (55) |  | 170 |  | 8 |  | (121) |
Other derivatives of exchange rate | (740) |  | (370) |  | — |  | — |  | (1,110) |  |  | (214) |  | (23) |  | 142 |  | 101 |  | 6 |
Other derivatives | 449 |  | 466 |  | — |  | — |  | 915 |  |  | (13) |  | (9) |  | 85 |  | 18 |  | 81 |
Total derivative instruments | (6,274) |  | (2,091) |  | (205) |  | 7,567 |  | (1,003) |  |  | (2,772) |  | (995) |  | 1,835 |  | 359 |  | (1,573) |
No derivatives instruments of accounting hedges (***) | — |  | — |  | 133 |  | — |  | 133 |  |  | — |  | — |  | 132 |  | — |  | 132 |
Exchange rate risk | — |  | — |  | 133 |  | — |  | 133 |  |  | — |  | — |  | 132 |  | — |  | 132 |
Fair value hedges | — |  | — |  | — |  | — |  | — |  |  | — |  | — |  | — |  | — |  | — |
Net investments hedges | — |  | — |  | 133 |  | — |  | 133 |  |  | — |  | — |  | 132 |  | — |  | 132 |
(*) 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, 132 million euros correspond to "Loans and other debts" (see Note 18). The detail of hedged items by fair value hedges at December 31, 2022 and December 31, 2021 are as follows:
December 31, 2022
| 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 | 15 |  | 250 |  | — |  | 265 |  |  | 8 |  | 22 |  | — |  | 30 |  | — |
Financial assets and other non-current assets | 8 |  | 96 |  | — |  | 104 |  |  | 8 |  | 1 |  | — |  | 9 |  | — |
Receivables and other current assets | — |  | 152 |  | — |  | 152 |  |  | — |  | 21 |  | — |  | 21 |  | — |
Other current financial assets | 7 |  | — |  | — |  | 7 |  |  | — |  | — |  | — |  | — |  | — |
Other heading of assets | — |  | 2 |  | — |  | 2 |  |  | — |  | — |  | — |  | — |  | — |
Liabilities | 8,125 |  | 1,295 |  | 1,619 |  | 11,039 |  |  | (88) |  | (38) |  | 67 |  | (59) |  | 21 |
Non-current financial liabilities | 7,735 |  | 468 |  | 1,454 |  | 9,657 |  |  | (89) |  | — |  | 15 |  | (74) |  | 36 |
Payables and other non-current liabilities | — |  | 60 |  | — |  | 60 |  |  | — |  | (2) |  | — |  | (2) |  | — |
Current financial liabilities | 387 |  | 11 |  | 165 |  | 563 |  |  | — |  | — |  | 52 |  | 52 |  | 1 |
Payables and other current liabilities | 3 |  | 756 |  | — |  | 759 |  |  | 1 |  | (36) |  | — |  | (35) |  | (16) |
(*) Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and viceversa.
December 31, 2021
| 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 | — |  | 226 |  | — |  | 226 |  |  | — |  | 4 |  | — |  | 4 |  | — |
Financial assets and other non-current assets | — |  | 101 |  | — |  | 101 |  |  | — |  | 1 |  | — |  | 1 |  | — |
Receivables and other current assets | — |  | 106 |  | — |  | 106 |  |  | — |  | 3 |  | — |  | 3 |  | — |
Other heading of assets | — |  | 19 |  | — |  | 19 |  |  | — |  | — |  | — |  | — |  | — |
Liabilities | 6,101 |  | 1,437 |  | 2,460 |  | 9,998 |  |  | 1,322 |  | (23) |  | 390 |  | 1,689 |  | 63 |
Non-current financial liabilities | 5,987 |  | 558 |  | 1,919 |  | 8,464 |  |  | 1,309 |  | — |  | 195 |  | 1,504 |  | 52 |
Non-current lease liabilities | 31 |  | — |  | — |  | 31 |  |  | (2) |  | — |  | — |  | (2) |  | — |
Payables and other non-current liabilities | — |  | 55 |  | — |  | 55 |  |  | — |  | (3) |  | — |  | (3) |  | — |
Current financial liabilities | 83 |  | — |  | 541 |  | 624 |  |  | 15 |  | — |  | 195 |  | 210 |  | 16 |
Payables and other current liabilities | — |  | 824 |  | — |  | 824 |  |  | — |  | (20) |  | — |  | (20) |  | (5) |
(*) 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, 2022 and December 31, 2021 are as follows:
| Derivative instruments |  |  |  |  | No derivative instruments |  | Total Gross amount | Tax effect | Total hedges in equity
| Gains (losses) of cash flow hedges | Derivatives - Net investment hedges |  |  |  | No Derivatives - Net investment hedges |
Millions of euros | Interest rate risk | Exchange rate risk | Exchange rate and interest rate risks |  |  |  |
Balance at 12/31/2021 | (70) |  | 247 |  | (270) |  | 705 |  |  |  |  |  |  | (5) |  |  | 607 |  | (170) |  | 437 |
Changes in the fair value registered in equity | 4 |  | 1,235 |  | 612 |  | (743) |  |  |  |  |  |  | (4) |  |  | 1,104 |  | (284) |  | 820 |
Transfer to the initial value of hedged item | 1 |  | (2) |  | (7) |  | — |  |  |  |  |  |  | — |  |  | (8) |  | 2 |  | (6) |
Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen | — |  | 1 |  | — |  | — |  |  |  |  |  |  | — |  |  | 1 |  | — |  | 1 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | 26 |  | (620) |  | (127) |  | 10 |  |  |  |  |  |  | — |  |  | (711) |  | 181 |  | (530) |
Total translation differences | 2 |  | — |  | 2 |  | (6) |  |  |  |  |  |  | — |  |  | (2) |  | 5 |  | 3 |
Other movements | — |  | — |  | — |  | 4 |  |  |  |  |  |  | — |  |  | 4 |  | (4) |  | — |
Balance at 12/31/2022 | (37) |  | 861 |  | 210 |  | (30) |  |  |  |  |  |  | (9) |  |  | 995 |  | (270) |  | 725 |
Amounts remaining in equity for continuing hedges | 10 |  | 826 |  | 290 |  | (30) |  |  |  |  |  |  | (9) |  |  | 1,087 |  |  |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | (47) |  | 35 |  | (80) |  | — |  |  |  |  |  |  | — |  |  | (92) |  |  |
Balance at 12/31/2022 | (37) |  | 861 |  | 210 |  | (30) |  |  |  |  |  |  | (9) |  |  | 995 |  |  |
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 +181 million euros (+72 million euros in 2021), see detail of "Net finance costs excluding foreign exchange differences and hyperinflation adjustments" in this Note, and in exchange differences amounted to +536 million euros (+873 million euros in 2021).
| Derivative instruments |  |  |  |  | No derivative instruments |  | Total Gross amount | Tax effect | Total hedges in equity
| Gains (losses) of cash flow hedges | Derivatives - Net investment hedges |  |  |  | No Derivatives - Net investment hedges |
Millions of euros | Interest rate risk | Exchange rate risk | Exchange rate and interest rate risks |  |  |  |
Balance at 12/31/2020 | (154) |  | (443) |  | (523) |  | 2,061 |  |  |  |  |  |  | — |  |  | 941 |  | (295) |  | 646 |
Changes in the fair value registered in equity | 34 |  | 1,473 |  | 445 |  | (353) |  |  |  |  |  |  | (5) |  |  | 1,594 |  | (396) |  | 1,198 |
Transfer to the initial value of hedged item | — |  | (1) |  | (1) |  | — |  |  |  |  |  |  | — |  |  | (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 | 48 |  | (782) |  | (188) |  | (962) |  |  |  |  |  |  | — |  |  | (1,884) |  | 478 |  | (1,406) |
Total translation differences | 2 |  | — |  | (3) |  | — |  |  |  |  |  |  | — |  |  | (1) |  | 1 |  | — |
Other movements | — |  | — |  | — |  | (41) |  |  |  |  |  |  | — |  |  | (41) |  | 41 |  | — |
Balance at 12/31/2021 | (70) |  | 247 |  | (270) |  | 705 |  |  |  |  |  |  | (5) |  |  | 607 |  | (170) |  | 437 |
Amounts remaining in equity for continuing hedges | (7) |  | 211 |  | (184) |  | 705 |  |  |  |  |  |  | (5) |  |  | 720 |  |  |
Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied | (63) |  | 36 |  | (86) |  | — |  |  |  |  |  |  | — |  |  | (113) |  |  |
Balance at 12/31/2021 | (70) |  | 247 |  | (270) |  | 705 |  |  |  |  |  |  | (5) |  |  | 607 |  |  |
The evolution of cost of hedging in equity in 2022 and 2021 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 12/31/2020 | (75) |  | (75) |  | 19 |  | (56) |
Changes in the fair value registered in equity | 128 |  | 128 |  | (32) |  | 96 |
Transfer to the income statement of the period - the hedged item has affected profit or loss | (10) |  | (10) |  | 2 |  | (8) |
Balance at 12/31/2021 | 43 |  | 43 |  | (11) |  | 32 |
Changes in the fair value registered in equity | (59) |  | (59) |  | 15 |  | (44) |
Transfer to the income statement of the period - the hedged item has affected profit or loss | (9) |  | (9) |  | 2 |  | (7) |
Balance at 12/31/2022 | (25) |  | (25) |  | 6 |  | (19) |
The details of the ineffective portion of accounting hedges with impact on the income statement in 2022 and 2021 are as follows:
2022
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 | (1,257) |  | (1,238) |  | (19) |  |  |  |
Cash flow hedges | 35 |  | 35 |  | — |  |  |  |
Fair value hedges | (1,292) |  | (1,273) |  | (19) |  |  |  |
Exchange rate risk | (8) |  | (8) |  | — |  |  |  |
Cash flow hedges | 1,108 |  | 1,108 |  | — |  |  |  |
Net investment hedges | (1,116) |  | (1,116) |  | — |  |  |  |
Interest rate and exchange rate risk | 462 |  | 475 |  | (13) |  |  |  |
Cash flow hedges | 462 |  | 475 |  | (13) |  |  |  |
Total | (803) |  | (771) |  | (32) |  |  |  |
2021
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 | (142) |  | (143) |  | 1 |  |  |  |
Cash flow hedges | 8 |  | 7 |  | 1 |  |  |  |
Fair value hedges | (150) |  | (150) |  | — |  |  |  |
Exchange rate risk | 960 |  | 994 |  | (34) |  |  |  |
Cash flow hedges | 1,510 |  | 1,544 |  | (34) |  |  |  |
Net investment hedges | (550) |  | (550) |  | — |  |  |  |
Interest rate and exchange rate risk | 412 |  | 418 |  | (6) |  |  |  |
Cash flow hedges | 412 |  | 418 |  | (6) |  |  |  |
Total | 1,230 |  | 1,269 |  | (39) |  |  |  |

X
- Definition The disclosure of detailed information about hedging instruments. [Refer: Hedging instruments [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2022-03-24 -Paragraph 24A -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2022-en-r&anchor=para_24A&doctype=Standard -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2022-03-24 -Paragraph 40 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2022-en-r&anchor=para_40_a&doctype=Standard -URIDate 2022-03-24 + Details
Name: | ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Fair Value Of Derivative Instruments And Expected Maturity [Table Text Block] + References No definition available. + Details
Name: | tef_DisclosureOfFairValueOfDerivativeInstrumentsAndExpectedMaturityTableTextBlock
Namespace Prefix: | tef_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Financial Results [Table Text Block] + References No definition available. + Details
Name: | tef_DisclosureOfFinancialResultsTableTextBlock
Namespace Prefix: | tef_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Financial Instruments [Abstract] + References No definition available. + Details
Name: | tef_FinancialInstrumentsAbstract
Namespace Prefix: | tef_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration